Victory Capital Management Reduces $232M in CF Industries Holdings, Inc. ($CF)
Victory Capital Management reduced its stake in CF Industries by 49.1%, as per its latest SEC filing.
Key Points
- Victory Capital Management reduced its stake in CF Industries by 49.1%, selling 2.14 million shares and holding 2.22 million shares valued at $240.2 million.
- CF Industries trades on the NYSE with a market cap of $16.63 billion, a P/E ratio of 9.75, and a 52-week range of $75.42 to $141.96.
- Insider buying activity included EVP and CFO Andrew Scribner acquiring 6,464 shares, while analysts have set a mean price target of $125.16.
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Victory Capital Management has significantly reduced its stake in CF Industries Holdings, Inc. (NYSE: CF), according to its latest Form 13F filing with the SEC. The firm cut its holdings by 49.1%, selling 2,140,546 shares during the reporting period, bringing its total to 2,218,746 shares valued at approximately $240.2 million.
Victory Capital Management vs. the S&P 500
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What Changed in Victory Capital Management's CF Industries Position
Victory Capital Management's decision to trim its stake in CF Industries resulted in a reduction of 2,140,546 shares, leaving it with 2,218,746 shares. This move represents a 49.1% decrease from its previous position of 4,359,292 shares.
Other Institutional Activity in CF Industries
Other major institutional investors have also been active in CF Industries. Vanguard Capital Management LLC opened a new position with 10,051,527 shares valued at about $1.31 billion. Meanwhile, BlackRock, Inc. slightly reduced its holdings by 76,197 shares, maintaining 12,191,733 shares worth approximately $1.58 billion. State Street Corp increased its stake by 38,638 shares, totaling 7,887,744 shares valued at $1.02 billion. Price T Rowe Associates Inc added 604,753 shares, bringing its total to 7,526,789 shares worth $977.3 million. Geode Capital Management, LLC boosted its holdings by 890,983 shares, now holding 5,178,962 shares valued at $715.7 million.
CF Industries Holdings, Inc. Stock Down 13.9%
Shares of CF Industries Holdings, Inc. (NYSE: CF) traded near $108.26 on Wednesday. The company has a market capitalization of $16.63 billion and a P/E ratio of 9.75. Its stock has a 52-week low of $75.42 and a high of $141.96. The 50-day moving average is $116.46, while the 200-day moving average stands at $99.51. The company's current ratio is 3.54, and it has a quick ratio of 2.92 and a debt-to-equity ratio of 43.85.
$CF stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
CF Industries reported revenue of $7.41 billion with a revenue growth rate of 19.4%. The company achieved a net margin of 23.7% and a return on equity of 27.3%. Earnings per share were $11.10. The next earnings report is scheduled for August 5, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 8.2%. Revenue beat estimates by 5.6%.
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Profit surprise
EBITDA beat by 37 percent. Operating income beat by 50 percent.
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Pre-earnings setup
Bar was low, analysts cautious going in.
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Analyst signal
2 target raises.
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Earnings quality
Gross margin down 3.1 points. Operating margin down 3.4 points. Positive free cash flow.
Earnings Call Summary
The quarter beat expectations with revenue of $1.99 billion versus $1.88 billion consensus, and earnings of $2.89 per share versus $2.43 expected. The company ran plants at nearly 100 percent capacity and benefited from tight global nitrogen supply caused by conflict in Iran closing the Strait of Hormuz, which knocked 31 ammonia plants offline in the Middle East. Management emphasized that North America now represents premium, low-risk nitrogen assets compared to fragile overseas capacity exposed to geopolitical risk. Free cash flow was $1.65 billion trailing twelve months.
Guidance Management did not provide numerical guidance for full year or next quarter. They noted nitrogen markets will remain tight through 2026 into 2027 due to Middle East disruptions, and they expect higher prices and mid-cycle economics to persist. They plan about $1.3 billion in capital spending for 2026, with $400 million toward the Blue Point ammonia plant starting construction this year.
Clearly positive report. Results were better than expected, though the forward reset is not the strongest.
Dividend
CF Industries offers an annual dividend rate of $2.00, yielding 1.85%. The dividend payout ratio stands at 18.02%.
Insider Buying and Selling at CF Industries Holdings, Inc.
Insider activity at CF Industries included several purchases. On May 26, 2026, Andrew Scribner, EVP and CFO, acquired 6,464 shares. Earlier, on April 28, 2026, insiders including Theresa Wagler, John Eaves, Celso White, Robert Arzbaecher, and Trevor Leigh Williams bought 1,390 shares each.
Analysts Set New Price Targets
Analyst activity around CF Industries has been robust. On June 30, 2026, Scotiabank upgraded CF Industries to a "buy" rating with a price target of $125. JP Morgan maintained its "hold" rating with a target of $115 on June 3, 2026. The consensus among analysts is a "hold" rating, with a mean target price of $125.16 based on 19 analyst opinions.
About CF Industries Holdings, Inc.
CF Industries Holdings, Inc. is a leading producer of ammonia and nitrogen products. Based in Northbrook, Illinois, the company operates in North America, Europe, and internationally, offering products like granular urea and urea ammonium nitrate. Led by CEO Christopher D. Bohn, CF Industries serves a wide range of customers, including cooperatives, retailers, and industrial users. Founded in 1946, the company employs approximately 2,900 people.
Bottom Line
Victory Capital Management's significant reduction in its CF Industries stake is a notable move in the agricultural inputs sector. While the 13F filing indicates past holdings as of the reporting period, CF Industries remains a key player with strong institutional interest. Investors continue to track its performance amid ongoing analyst evaluations.
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