Geode Capital Management LLC Has $128.77 Million Stock Holdings in Magna International Inc. $MGA

Geode Capital Management LLC lifted its stake in Magna International Inc. (NYSE:MGA) (TSE:MG) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,426,843 shares of the company’s stock after acquiring an additional 154,710 shares during the quarter. Geode Capital Management LLC owned approximately 0.87% of Magna International worth $128,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Plato Investment Management Ltd bought a new stake in Magna International in the third quarter worth $1,880,000. Achmea Investment Management B.V. bought a new stake in shares of Magna International during the 3rd quarter worth $8,606,000. Quantbot Technologies LP lifted its position in Magna International by 65.5% during the 3rd quarter. Quantbot Technologies LP now owns 199,899 shares of the company’s stock worth $9,471,000 after acquiring an additional 79,133 shares during the last quarter. ARGA Investment Management LP grew its position in shares of Magna International by 1.1% in the fourth quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after purchasing an additional 44,996 shares during the last quarter. Finally, Leuthold Group LLC grew its position in shares of Magna International by 1,057.9% in the third quarter. Leuthold Group LLC now owns 116,279 shares of the company’s stock valued at $5,509,000 after purchasing an additional 106,237 shares during the last quarter. 67.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MGA has been the subject of several research reports. Canadian Imperial Bank of Commerce reduced their price objective on Magna International to $74.00 in a research report on Monday, May 4th. The Goldman Sachs Group decreased their target price on Magna International from $60.00 to $52.00 and set a “sell” rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research report on Friday, May 29th. Citigroup lifted their target price on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Magna International from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.19.

Magna International Stock Performance

MGA stock opened at $68.23 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88. The company has a 50 day moving average price of $60.72 and a 200 day moving average price of $57.03. Magna International Inc. has a fifty-two week low of $35.86 and a fifty-two week high of $69.94. The stock has a market capitalization of $18.57 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43.

Magna International (NYSE:MGA) (TSE:MG) last announced its earnings results on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.37. The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.14 billion. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Analysts forecast that Magna International Inc. will post 6.87 EPS for the current year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. Magna International’s payout ratio is presently 82.85%.

Magna International Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.