Geode Capital Management LLC Has $72.77 Million Stock Position in Lineage, Inc. (NASDAQ:LINE)

Geode Capital Management LLC lifted its position in shares of Lineage, Inc. (NASDAQ:LINE) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,242,029 shares of the company’s stock after purchasing an additional 79,219 shares during the quarter. Geode Capital Management LLC owned approximately 0.54% of Lineage worth $72,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Lineage in the fourth quarter worth $681,572,000. Principal Financial Group Inc. acquired a new position in shares of Lineage in the 3rd quarter valued at $173,115,000. State Street Corp bought a new position in shares of Lineage during the 3rd quarter worth about $113,483,000. Baillie Gifford & Co. boosted its position in shares of Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock valued at $181,484,000 after acquiring an additional 1,384,481 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company’s stock valued at $180,811,000 after acquiring an additional 831,533 shares during the period.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BNP Paribas began coverage on shares of Lineage in a research note on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price target for the company. Robert W. Baird decreased their price target on Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their price objective on Lineage from $80.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, April 1st. Barclays initiated coverage on Lineage in a report on Wednesday. They set an “overweight” rating and a $59.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered shares of Lineage from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.63.

Lineage Trading Up 2.8 %

LINE stock opened at $53.70 on Friday. The company has a 50 day moving average price of $57.27 and a 200 day moving average price of $62.69. Lineage, Inc. has a fifty-two week low of $46.63 and a fifty-two week high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.93%.

Lineage Profile

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.