CoreView Capital Management Ltd Sells 294,227 Shares of JD.com, Inc. $JD

CoreView Capital Management Ltd lessened its position in JD.com, Inc. (NASDAQ:JD) by 4.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,197,455 shares of the information services provider’s stock after selling 294,227 shares during the period. JD.com makes up 23.8% of CoreView Capital Management Ltd’s holdings, making the stock its 2nd largest position. CoreView Capital Management Ltd’s holdings in JD.com were worth $216,787,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of JD. Stone House Investment Management LLC bought a new position in JD.com during the third quarter valued at about $35,000. Assetmark Inc. raised its position in JD.com by 62.0% in the third quarter. Assetmark Inc. now owns 1,043 shares of the information services provider’s stock worth $36,000 after acquiring an additional 399 shares in the last quarter. Golden State Wealth Management LLC raised its position in JD.com by 657.9% in the third quarter. Golden State Wealth Management LLC now owns 1,152 shares of the information services provider’s stock worth $40,000 after acquiring an additional 1,000 shares in the last quarter. Union Bancaire Privee UBP SA lifted its holdings in JD.com by 136.0% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 1,180 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 680 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in JD.com by 158.4% in the 2nd quarter. Allworth Financial LP now owns 1,354 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 830 shares during the last quarter. Institutional investors and hedge funds own 15.98% of the company’s stock.

JD.com Price Performance

NASDAQ JD opened at $28.32 on Friday. The stock’s 50-day moving average price is $28.18 and its two-hundred day moving average price is $30.50. The company has a current ratio of 1.22, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21. The company has a market cap of $40.57 billion, a PE ratio of 16.09, a PEG ratio of 8.62 and a beta of 0.41. JD.com, Inc. has a 1 year low of $24.51 and a 1 year high of $45.75.

JD.com Increases Dividend

The company also recently announced an annual dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Thursday, April 9th will be given a $1.00 dividend. This represents a dividend yield of 396.0%. This is an increase from JD.com’s previous annual dividend of $0.76. The ex-dividend date of this dividend is Thursday, April 9th. JD.com’s payout ratio is 55.68%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on JD. Bank of America reaffirmed a “buy” rating and issued a $33.00 price objective on shares of JD.com in a research note on Thursday, March 5th. Barclays cut their target price on shares of JD.com from $41.00 to $34.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. UBS Group restated a “buy” rating on shares of JD.com in a report on Friday, March 6th. HSBC reaffirmed a “buy” rating and issued a $37.00 price target on shares of JD.com in a report on Monday, December 29th. Finally, Susquehanna cut their price objective on JD.com from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, JD.com has a consensus rating of “Moderate Buy” and an average target price of $36.36.

JD.com Company Profile

JD.com is a major Chinese e-commerce company that operates a comprehensive online retail platform selling a wide range of consumer goods, including electronics, appliances, apparel, groceries and everyday household items. The company combines direct retailing—purchasing inventory and selling products itself—with a marketplace for third-party merchants, offering consumers both self-operated and third-party choices. In addition to its core retail business, JD.com has expanded into adjacent services such as digital marketplaces for cross-border commerce, online pharmacy and healthcare services, and enterprise-facing cloud and technology solutions.

A distinctive feature of JD.com’s business model is its integrated logistics and fulfillment network.