Legacy Wealth Asset Management LLC Sells 19,794 Shares of BHP Group Limited Sponsored ADR $BHP

Key Points

• Legacy Wealth Asset Management cut its BHP Group stake by 57.1% in the second quarter, selling 19,794 shares and retaining 14,861 shares valued at approximately $1.24 million.
• Other institutional investors generally increased their holdings, although institutional ownership remains relatively low at 3.79% of BHP’s outstanding stock.
• Analyst sentiment is mixed: BHP has an average rating of “Hold” and an average price target of $78, below its recent $90.51 share price; the stock is near its 52-week high of $93.83.

Legacy Wealth Asset Management LLC lessened its holdings in BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report) by 57.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,861 shares of the mining company's stock after selling 19,794 shares during the period. Legacy Wealth Asset Management LLC's holdings in BHP Group were worth $1,238,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BHP. Affinity Capital Advisors LLC raised its holdings in BHP Group by 4.1% during the second quarter. Affinity Capital Advisors LLC now owns 3,822 shares of the mining company's stock valued at $320,000 after buying an additional 152 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of BHP Group by 23.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 8,282 shares of the mining company's stock worth $690,000 after acquiring an additional 1,549 shares in the last quarter. Williams & Novak LLC boosted its stake in shares of BHP Group by 3.7% during the 2nd quarter. Williams & Novak LLC now owns 4,862 shares of the mining company's stock worth $405,000 after acquiring an additional 173 shares in the last quarter. 55 North Private Wealth LLC increased its holdings in shares of BHP Group by 43.6% during the 2nd quarter. 55 North Private Wealth LLC now owns 6,577 shares of the mining company's stock valued at $548,000 after acquiring an additional 1,997 shares during the last quarter. Finally, Foster Group Inc. acquired a new position in shares of BHP Group during the 2nd quarter valued at about $277,000. 3.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research lowered BHP Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of BHP Group in a report on Thursday, July 2nd. Argus set a $95.00 price target on shares of BHP Group in a research report on Monday, April 27th. Wall Street Zen upgraded shares of BHP Group from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Citigroup reaffirmed a "neutral" rating on shares of BHP Group in a report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, BHP Group presently has an average rating of "Hold" and an average target price of $78.00.

BHP Group Stock Up 0.1%

BHP Group stock opened at $90.51 on Monday. BHP Group Limited Sponsored ADR has a 52 week low of $51.83 and a 52 week high of $93.83. The company has a current ratio of 1.65, a quick ratio of 1.28 and a debt-to-equity ratio of 0.44. The business's 50-day simple moving average is $84.93 and its 200-day simple moving average is $79.30.

BHP Group Profile

BHP Group is an Anglo-Australian natural resources company engaged principally in the exploration, development, production and marketing of commodities. Its core businesses include the extraction and processing of iron ore, copper, metallurgical and thermal coal, nickel and other minerals. BHP operates large-scale mining and processing assets and supplies raw materials used across steelmaking, energy and industrial supply chains.

The company has a global operating footprint with significant assets and projects in Australia and the Americas, and commercial activities that serve customers worldwide.

Want to see what other hedge funds are holding BHP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BHP Group Limited Sponsored ADR (NYSE:BHP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source