Hsbc Holdings PLC decreased its stake in shares of BHP Group Ltd (NYSE:BHP) by 32.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 43,259 shares of the mining company’s stock after selling 21,016 shares during the quarter. Hsbc Holdings PLC’s holdings in BHP Group were worth $2,089,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of BHP. Renaissance Technologies LLC bought a new position in BHP Group during the third quarter valued at approximately $12,445,000. NINE MASTS CAPITAL Ltd bought a new position in BHP Group in the third quarter worth approximately $9,287,000. Victory Capital Management Inc. bought a new position in BHP Group in the fourth quarter worth approximately $8,879,000. Radin Capital Partners Inc. bought a new position in BHP Group in the third quarter worth approximately $8,827,000. Finally, Luminus Management LLC bought a new position in BHP Group in the third quarter worth approximately $8,268,000. Institutional investors own 3.75% of the company’s stock.
Several research analysts have weighed in on the stock. Societe Generale downgraded shares of BHP Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Sanford C. Bernstein upgraded shares of BHP Group to a “buy” rating in a research report on Thursday, December 20th. Goldman Sachs Group downgraded shares of BHP Group from a “buy” rating to a “neutral” rating in a research report on Monday, February 11th. Zacks Investment Research upgraded shares of BHP Group from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Tuesday, February 12th. Finally, JPMorgan Chase & Co. downgraded shares of BHP Group from a “neutral” rating to an “underweight” rating in a research report on Monday, February 4th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. BHP Group presently has a consensus rating of “Hold” and a consensus target price of $49.50.
The company also recently disclosed a special dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Friday, March 8th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a dividend yield of 4.65%. BHP Group’s payout ratio is 65.48%.
About BHP Group
BHP Group discovers, acquires, develops, and markets natural resources worldwide. The company engages in the exploration, development, and production of oil and gas properties; and mining of copper, silver, lead, zinc, molybdenum, uranium, gold, and iron ores, as well as metallurgical and energy coal.
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