JinkoSolar Holding Company Limited $JKS Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its holdings in JinkoSolar by 63.6% in Q1, owning a total of 78,065 shares worth approximately $1.45 million as of its latest SEC filing.
• JinkoSolar announced a quarterly dividend of $0.325 per share, translating to an annual yield of 5.8% and a payout ratio of -25.50%.
• Analysts remain cautious, with Citigroup downgrading JinkoSolar from a "buy" to a "sell" rating, resulting in a consensus target price of $27.19.

Aberdeen Group plc raised its position in JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 63.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,065 shares of the semiconductor company's stock after purchasing an additional 30,340 shares during the quarter. Aberdeen Group plc owned 0.15% of JinkoSolar worth $1,455,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar in the first quarter valued at about $36,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of JinkoSolar in the fourth quarter valued at about $55,000. Caitong International Asset Management Co. Ltd grew its stake in shares of JinkoSolar by 502.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock valued at $102,000 after buying an additional 4,562 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of JinkoSolar in the fourth quarter valued at about $200,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of JinkoSolar by 85.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock valued at $217,000 after buying an additional 3,998 shares in the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Stock Down 4.8%

NYSE JKS traded down $1.13 during mid-day trading on Wednesday, reaching $22.49. 711,540 shares of the company's stock traded hands, compared to its average volume of 429,599. JinkoSolar Holding Company Limited has a 1-year low of $13.42 and a 1-year high of $37.36. The company has a fifty day simple moving average of $22.67 and a 200-day simple moving average of $20.53. The company has a current ratio of 1.33, a quick ratio of 1.07 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -4.48 and a beta of 0.21.

JinkoSolar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Wednesday, July 2nd. JinkoSolar's dividend payout ratio (DPR) is -25.50%.

Analysts Set New Price Targets

Separately, Citigroup lowered JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $27.19.

JinkoSolar Profile

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.