Moran Wealth Management LLC Sells 245,584 Shares of BHP Group Limited (NYSE:BHP)

Moran Wealth Management LLC reduced its stake in BHP Group Limited (NYSE:BHP) by 53.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,007 shares of the mining company’s stock after selling 245,584 shares during the period. Moran Wealth Management LLC’s holdings in BHP Group were worth $10,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new stake in BHP Group in the fourth quarter valued at approximately $29,000. Versant Capital Management Inc bought a new stake in BHP Group during the 4th quarter worth $40,000. Union Bancaire Privee UBP SA acquired a new position in BHP Group in the 4th quarter worth about $46,000. Newbridge Financial Services Group Inc. bought a new position in BHP Group in the fourth quarter valued at about $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BHP Group by 42.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,169 shares of the mining company’s stock valued at $73,000 after purchasing an additional 351 shares in the last quarter. 3.79% of the stock is owned by institutional investors.

BHP Group Price Performance

Shares of BHP opened at $50.17 on Monday. The business has a 50-day moving average of $49.86 and a 200-day moving average of $52.89. BHP Group Limited has a 1 year low of $48.06 and a 1 year high of $63.21. The company has a market capitalization of $127.23 billion, a price-to-earnings ratio of 11.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25.

BHP Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 7th will be given a $1.00 dividend. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 4.8%. BHP Group’s dividend payout ratio (DPR) is currently 44.77%.

Wall Street Analysts Forecast Growth

BHP has been the subject of several recent research reports. Clarkson Capital raised BHP Group to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group decreased their price target on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com downgraded shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.00.

BHP Group Profile

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.