Baillie Gifford & Co. Buys 1,384,481 Shares of Lineage, Inc. (NASDAQ:LINE)

Baillie Gifford & Co. grew its stake in Lineage, Inc. (NASDAQ:LINE) by 80.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,098,580 shares of the company’s stock after acquiring an additional 1,384,481 shares during the period. Baillie Gifford & Co. owned 1.36% of Lineage worth $181,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LINE. Wellington Management Group LLP bought a new position in Lineage in the 3rd quarter worth about $265,895,000. Victory Capital Management Inc. bought a new position in shares of Lineage during the third quarter valued at approximately $176,790,000. Principal Financial Group Inc. bought a new position in shares of Lineage during the third quarter valued at approximately $173,115,000. Janus Henderson Group PLC bought a new position in shares of Lineage during the third quarter valued at approximately $131,875,000. Finally, State Street Corp bought a new position in shares of Lineage during the third quarter valued at approximately $113,483,000.

Lineage Stock Up 0.3 %

NASDAQ:LINE opened at $56.37 on Monday. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average is $58.71 and its two-hundred day moving average is $70.27. Lineage, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were issued a $0.5275 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $75.00 in a research note on Friday, December 20th. The Goldman Sachs Group dropped their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada dropped their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Mizuho lowered their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Evercore ISI lowered their target price on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.88.

About Lineage

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.