Coronation Fund Managers Ltd. increased its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 93.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,292,232 shares of the specialty retailer’s stock after purchasing an additional 623,297 shares during the quarter. Alibaba Group makes up approximately 8.0% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 2nd largest position. Coronation Fund Managers Ltd. owned about 0.05% of Alibaba Group worth $218,969,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of BABA. Farmers National Bank purchased a new stake in Alibaba Group in the 1st quarter valued at $25,000. Cribstone Capital Management LLC purchased a new stake in Alibaba Group in the 1st quarter valued at $27,000. Manchester Capital Management LLC grew its holdings in Alibaba Group by 171.4% in the 1st quarter. Manchester Capital Management LLC now owns 152 shares of the specialty retailer’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Alibaba Group in the 1st quarter valued at $34,000. Finally, Farmers & Merchants Investments Inc. grew its holdings in Alibaba Group by 100.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 200 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 40.84% of the company’s stock.
BABA has been the subject of several analyst reports. TH Capital upped their target price on Alibaba Group from $180.00 to $220.00 in a report on Monday, May 13th. Jefferies Financial Group started coverage on Alibaba Group in a research note on Monday. They issued a “buy” rating and a $216.00 price target on the stock. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the company a “buy” rating in a research note on Friday, July 12th. Barclays upped their price target on Alibaba Group from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Loop Capital started coverage on Alibaba Group in a research note on Monday, June 3rd. They issued a “buy” rating and a $250.00 price target on the stock. One research analyst has rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $218.48.
NYSE BABA traded down $5.40 during trading hours on Monday, hitting $155.60. 7,313,883 shares of the company were exchanged, compared to its average volume of 17,023,180. The company’s 50 day simple moving average is $170.61. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.30 and a current ratio of 1.30. Alibaba Group Holding Ltd has a 52-week low of $129.77 and a 52-week high of $195.72. The firm has a market capitalization of $409.65 billion, a price-to-earnings ratio of 43.34, a price-to-earnings-growth ratio of 1.17 and a beta of 2.30.
Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Wednesday, May 15th. The specialty retailer reported $8.57 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $7.82. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. The business had revenue of $93.50 billion for the quarter, compared to the consensus estimate of $91.68 billion. During the same quarter in the prior year, the business posted $5.73 EPS. The business’s revenue for the quarter was up 51.0% on a year-over-year basis. Equities analysts expect that Alibaba Group Holding Ltd will post 5.12 EPS for the current fiscal year.
Alibaba Group Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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