Raymond James & Associates Has $16.11 Million Stake in BHP Group Limited (NYSE:BHP)

Raymond James & Associates decreased its position in shares of BHP Group Limited (NYSE:BHP) by 26.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 259,349 shares of the mining company’s stock after selling 91,116 shares during the period. Raymond James & Associates’ holdings in BHP Group were worth $16,108,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BHP. Asset Dedication LLC increased its holdings in shares of BHP Group by 7,516.7% during the second quarter. Asset Dedication LLC now owns 457 shares of the mining company’s stock worth $26,000 after buying an additional 451 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BHP Group in the second quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of BHP Group in the second quarter valued at approximately $27,000. WFA Asset Management Corp acquired a new stake in shares of BHP Group in the first quarter valued at approximately $31,000. Finally, Sound Income Strategies LLC increased its holdings in shares of BHP Group by 124.6% in the third quarter. Sound Income Strategies LLC now owns 530 shares of the mining company’s stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Institutional investors and hedge funds own 3.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Sanford C. Bernstein raised shares of BHP Group from a “market perform” rating to an “outperform” rating in a report on Monday, September 16th. Argus raised shares of BHP Group to a “strong-buy” rating in a report on Thursday, September 19th. StockNews.com raised shares of BHP Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 28th. Finally, Jefferies Financial Group lowered shares of BHP Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $72.00 to $68.00 in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

BHP Group Price Performance

Shares of BHP stock opened at $56.44 on Friday. BHP Group Limited has a 52-week low of $50.90 and a 52-week high of $69.11. The stock has a market cap of $142.96 billion, a PE ratio of 11.96, a PEG ratio of 3.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.29 and a current ratio of 1.70. The firm’s 50 day moving average price is $56.19 and its two-hundred day moving average price is $56.82.

BHP Group Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were paid a $1.465 dividend. The ex-dividend date of this dividend was Friday, September 13th. This is a boost from BHP Group’s previous Semi-Annual dividend of $1.44. This represents a yield of 5.2%. BHP Group’s dividend payout ratio (DPR) is presently 62.08%.

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.