Kennedy-Wilson (NYSE:KW) Lowered to Sell Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Kennedy-Wilson (NYSE:KW – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Kennedy-Wilson Trading Down 0.9%

NYSE:KW opened at $7.52 on Friday. Kennedy-Wilson has a 52 week low of $5.98 and a 52 week high of $11.88. The firm has a 50 day moving average of $6.68 and a 200 day moving average of $7.87. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 6.23. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -7.16, a PEG ratio of 1.65 and a beta of 1.07.

Kennedy-Wilson (NYSE:KW – Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Kennedy-Wilson had a negative net margin of 19.24% and a positive return on equity of 7.76%. The firm had revenue of $128.30 million for the quarter, compared to analysts’ expectations of $227.14 million. As a group, sell-side analysts anticipate that Kennedy-Wilson will post 2.87 earnings per share for the current fiscal year.

Kennedy-Wilson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 30th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.48 dividend on an annualized basis and a yield of 6.39%. Kennedy-Wilson’s payout ratio is -45.71%.

Insider Buying and Selling

In related news, CEO William J. Mcmorrow purchased 200,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $6.36 per share, with a total value of $1,272,000.00. Following the completion of the acquisition, the chief executive officer owned 8,049,517 shares in the company, valued at approximately $51,194,928.12. This represents a 2.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 20.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in KW. Royce & Associates LP raised its holdings in shares of Kennedy-Wilson by 3.6% in the fourth quarter. Royce & Associates LP now owns 9,299,611 shares of the financial services provider’s stock worth $92,903,000 after buying an additional 325,737 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kennedy-Wilson in the fourth quarter worth $2,801,000. Northern Trust Corp increased its stake in shares of Kennedy-Wilson by 18.2% in the fourth quarter. Northern Trust Corp now owns 1,572,013 shares of the financial services provider’s stock worth $15,704,000 after acquiring an additional 241,943 shares during the period. Jane Street Group LLC increased its stake in shares of Kennedy-Wilson by 756.4% in the first quarter. Jane Street Group LLC now owns 209,553 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 185,083 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Kennedy-Wilson in the first quarter worth $1,600,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.

About Kennedy-Wilson

(Get Free Report)

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.

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