Avos Capital Management LLC Sells 5,229 Shares of BHP Group Limited Sponsored ADR (NYSE:BHP)

Key Points

• Avos Capital Management LLC reduced its holdings in BHP Group Limited by 42.2% in Q1, retaining only 7,166 shares valued at approximately $348,000.
• Other institutional investors, including Connor Clark & Lunn and Citigroup Inc., significantly increased their positions in BHP during the same period, with Citigroup raising theirs by 94.9%.
• Several brokerages downgraded BHP Group's rating, with an average consensus rating of "Hold" and a price target of $48.50, reflecting cautious sentiment in the market.

Avos Capital Management LLC lowered its stake in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 42.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,166 shares of the mining company's stock after selling 5,229 shares during the quarter. BHP Group comprises approximately 0.2% of Avos Capital Management LLC's holdings, making the stock its 29th largest holding. Avos Capital Management LLC's holdings in BHP Group were worth $348,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Costello Asset Management INC acquired a new stake in BHP Group in the first quarter worth $26,000. WFA Asset Management Corp bought a new position in BHP Group in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new position in BHP Group in the first quarter valued at approximately $27,000. Compagnie Lombard Odier SCmA acquired a new position in BHP Group during the 1st quarter worth approximately $32,000. Finally, Vermillion Wealth Management Inc. acquired a new position in BHP Group during the 4th quarter worth approximately $74,000. Institutional investors and hedge funds own 3.79% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. BMO Capital Markets downgraded BHP Group from an "outperform" rating to a "market perform" rating in a research report on Sunday, July 27th. Argus downgraded BHP Group from a "buy" rating to a "hold" rating in a research report on Friday, June 13th. Macquarie downgraded BHP Group from an "outperform" rating to a "neutral" rating in a research note on Friday, July 18th. Berenberg Bank restated a "sell" rating and issued a $44.00 price target on shares of BHP Group in a research note on Thursday, July 24th. Finally, Sanford C. Bernstein downgraded BHP Group from an "outperform" rating to a "market perform" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $48.50.

BHP Group Stock Performance

NYSE BHP traded up $0.68 during trading on Wednesday, reaching $54.72. 2,942,012 shares of the company's stock were exchanged, compared to its average volume of 2,988,468. The business has a 50 day moving average price of $50.52 and a 200-day moving average price of $49.40. The stock has a market capitalization of $138.76 billion, a P/E ratio of 12.44 and a beta of 0.80. 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 Limited Sponsored ADR has a fifty-two week low of $39.73 and a fifty-two week high of $63.21.

About BHP Group

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.