Mackenzie Financial Corp Reduces Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Mackenzie Financial Corp trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 25.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,506 shares of the specialty retailer’s stock after selling 28,920 shares during the quarter. Mackenzie Financial Corp’s holdings in Alibaba Group were worth $6,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BABA. Fairfield Bush & CO. purchased a new position in Alibaba Group during the 1st quarter worth $53,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Alibaba Group during the 1st quarter valued at about $2,452,000. Dakota Wealth Management purchased a new stake in Alibaba Group during the 1st quarter valued at about $390,000. Sequoia Financial Advisors LLC grew its stake in Alibaba Group by 11.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,342 shares of the specialty retailer’s stock valued at $799,000 after purchasing an additional 743 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in Alibaba Group by 46.0% during the 1st quarter. Zions Bancorporation N.A. now owns 7,816 shares of the specialty retailer’s stock valued at $850,000 after purchasing an additional 2,464 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BABA shares. Morgan Stanley reiterated an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a research note on Tuesday, April 9th. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Barclays dropped their price target on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, January 12th. Citigroup decreased their price objective on Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group decreased their price objective on Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $112.91.

Alibaba Group Stock Performance

NYSE BABA opened at $69.07 on Friday. The stock has a market capitalization of $175.27 billion, a price-to-earnings ratio of 12.74 and a beta of 0.46. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $102.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $73.14 and a 200 day moving average of $75.82.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same period in the previous year, the company earned $2.44 EPS. Alibaba Group’s revenue was up 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.54 EPS for the current fiscal year.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.