Citigroup Inc. increased its holdings in shares of Cosan Ltd (NYSE:CZZ) by 5,112.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,358 shares of the basic materials company’s stock after buying an additional 808,542 shares during the period. Citigroup Inc. owned about 0.34% of Cosan worth $8,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Investors Research Corp acquired a new position in Cosan in the 4th quarter valued at $186,000. First Trust Advisors LP acquired a new position in Cosan in the 4th quarter valued at $232,000. Ellington Management Group LLC acquired a new position in Cosan in the 4th quarter valued at $372,000. KBC Group NV acquired a new position in Cosan in the 1st quarter valued at $449,000. Finally, Parametrica Management Ltd acquired a new position in Cosan in the 4th quarter valued at $654,000. Hedge funds and other institutional investors own 25.93% of the company’s stock.
A number of analysts have issued reports on CZZ shares. ValuEngine downgraded Cosan from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 23rd. JPMorgan Chase & Co. downgraded Cosan from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $10.00 to $13.00 in a research note on Tuesday, February 20th. Finally, Zacks Investment Research downgraded Cosan from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Cosan has an average rating of “Hold” and a consensus price target of $12.50.
The firm also recently declared an annual dividend, which was paid on Thursday, May 17th. Stockholders of record on Tuesday, May 8th were issued a dividend of $0.0822 per share. This represents a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, May 7th. Cosan’s dividend payout ratio is presently 12.50%.
Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol, and fuel businesses primarily in Brazil and internationally. The company's Raízen Energia segment produces and markets various products derived from sugar cane, including raw sugar, and anhydrous and hydrated ethanol.
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