Shares of JD.com, Inc. (NASDAQ:JD – Get Rating) were down 4.3% on Wednesday after Morgan Stanley lowered their price target on the stock from $66.00 to $60.00. The stock traded as low as $38.24 and last traded at $38.27. Approximately 2,640,205 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 9,464,359 shares. The stock had previously closed at $40.01.
A number of other research analysts also recently issued reports on JD. HSBC dropped their price objective on JD.com from $82.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, March 10th. Susquehanna dropped their price objective on JD.com from $62.00 to $45.00 in a research note on Monday, March 13th. StockNews.com started coverage on shares of JD.com in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Loop Capital lowered shares of JD.com from a “buy” rating to a “hold” rating and lowered their price objective for the company from $82.00 to $49.00 in a research note on Thursday, March 30th. Finally, BOCOM International lowered shares of JD.com from a “buy” rating to a “neutral” rating in a research note on Friday, March 10th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.25.
Institutional Trading of JD.com
A number of hedge funds have recently bought and sold shares of the business. Marshall Wace LLP increased its holdings in JD.com by 461.2% during the third quarter. Marshall Wace LLP now owns 2,463,812 shares of the information services provider’s stock worth $123,931,000 after buying an additional 2,024,813 shares during the last quarter. TT International Asset Management LTD bought a new position in JD.com during the fourth quarter valued at $110,942,000. Robeco Institutional Asset Management B.V. bought a new position in JD.com during the fourth quarter valued at $70,753,000. Sculptor Capital LP bought a new position in JD.com during the first quarter valued at $71,389,000. Finally, OLP CAPITAL MANAGEMENT Ltd bought a new position in JD.com during the fourth quarter valued at $68,015,000. 17.71% of the stock is currently owned by institutional investors.
JD.com Trading Down 7.6 %
JD.com Announces Dividend
The firm also recently announced a Variable dividend, which will be paid on Thursday, May 4th. Shareholders of record on Thursday, April 6th will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a yield of 1.5%. JD.com’s payout ratio is 67.42%.
JD.com Company Profile
JD.com, Inc is a technology-driven E-commerce company. It engages in the sale of electronics products and general merchandise products, including audio, video products, and books. It operates through the following segments: JD Retail, JD Logistics, and New Businesses. The JD Retail segment offers online retail, online marketplace, and marketing services.
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