Old West Investment Management LLC Raises Stake in Kennedy-Wilson Holdings Inc. $KW

Key Points

• Old West Investment Management LLC increased its holdings in Kennedy-Wilson Holdings Inc. by 47,292 shares, raising its total to 641,220 shares, which makes up approximately 2.0% of its investment portfolio.
• Kennedy-Wilson's stock rating has been upgraded from "sell" to "buy" by Wall Street Zen, with a consensus price target of $9.00.
• The company announced a quarterly dividend of $0.12, equating to an annual yield of 5.6%, to be paid on October 9th.

Old West Investment Management LLC raised its holdings in Kennedy-Wilson Holdings Inc. (NYSE:KW - Free Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 641,220 shares of the financial services provider's stock after acquiring an additional 47,292 shares during the quarter. Kennedy-Wilson accounts for about 2.0% of Old West Investment Management LLC's holdings, making the stock its 20th biggest position. Old West Investment Management LLC owned about 0.37% of Kennedy-Wilson worth $5,566,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Kennedy-Wilson by 3.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,625 shares of the financial services provider's stock worth $646,000 after buying an additional 2,054 shares during the last quarter. Sprott Inc. raised its stake in shares of Kennedy-Wilson by 0.4% during the 1st quarter. Sprott Inc. now owns 861,660 shares of the financial services provider's stock worth $7,479,000 after buying an additional 3,077 shares during the last quarter. New York State Teachers Retirement System raised its stake in shares of Kennedy-Wilson by 12.3% during the 1st quarter. New York State Teachers Retirement System now owns 30,100 shares of the financial services provider's stock worth $261,000 after buying an additional 3,300 shares during the last quarter. Legacy Capital Group California Inc. raised its stake in shares of Kennedy-Wilson by 18.0% during the 1st quarter. Legacy Capital Group California Inc. now owns 22,979 shares of the financial services provider's stock worth $199,000 after buying an additional 3,513 shares during the last quarter. Finally, Syon Capital LLC raised its stake in shares of Kennedy-Wilson by 19.5% during the 4th quarter. Syon Capital LLC now owns 22,867 shares of the financial services provider's stock worth $228,000 after buying an additional 3,737 shares during the last quarter. Institutional investors and hedge funds own 87.72% of the company's stock.

Kennedy-Wilson Price Performance

Kennedy-Wilson stock traded up $0.03 during midday trading on Friday, reaching $8.82. 714,527 shares of the company were exchanged, compared to its average volume of 843,636. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.16, a P/E/G ratio of 2.79 and a beta of 1.10. The firm's 50-day simple moving average is $7.60 and its 200-day simple moving average is $7.53. Kennedy-Wilson Holdings Inc. has a 1 year low of $5.98 and a 1 year high of $11.88. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.97 and a current ratio of 0.97.

Kennedy-Wilson (NYSE:KW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.10. The firm had revenue of $135.70 million during the quarter, compared to analysts' expectations of $229.98 million. Kennedy-Wilson had a positive return on equity of 12.90% and a negative net margin of 9.11%. On average, analysts anticipate that Kennedy-Wilson Holdings Inc. will post 2.87 EPS for the current year.

Kennedy-Wilson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Tuesday, September 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, September 30th. Kennedy-Wilson's dividend payout ratio (DPR) is currently -71.64%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Kennedy-Wilson from a "sell" rating to a "buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.00.

Kennedy-Wilson Profile

Kennedy-Wilson Holdings, Inc, together with its subsidiaries, operates as a real estate investment company. The company owns, operates, and invests in real estate both on its own and through its investment management platform. It focuses on multifamily and office properties located in the Western United States, the United Kingdom, Ireland, Spain, Italy, and Japan.