HP Inc. (HPQ) Shares Bought by Foundry Partners LLC
Foundry Partners LLC lifted its holdings in HP Inc. (NYSE:HPQ) by 66.1% during the third quarter, Holdings Channel reports. The institutional investor owned 640,230 shares of the computer maker’s stock after acquiring an additional 254,670 shares during the quarter. Foundry Partners LLC’s holdings in HP were worth $16,499,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in HPQ. DNB Asset Management AS boosted its stake in shares of HP by 251.5% in the 3rd quarter. DNB Asset Management AS now owns 4,944,443 shares of the computer maker’s stock worth $127,418,000 after buying an additional 3,537,963 shares during the last quarter. Boston Partners boosted its stake in shares of HP by 7.3% in the 2nd quarter. Boston Partners now owns 38,822,978 shares of the computer maker’s stock worth $880,893,000 after buying an additional 2,637,787 shares during the last quarter. Natixis boosted its stake in shares of HP by 8,339.5% in the 2nd quarter. Natixis now owns 2,528,982 shares of the computer maker’s stock worth $57,383,000 after buying an additional 2,499,016 shares during the last quarter. Hexavest Inc. purchased a new position in shares of HP in the 2nd quarter worth approximately $48,329,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of HP in the 2nd quarter worth approximately $40,308,000. Hedge funds and other institutional investors own 79.67% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded HP from a “buy” rating to a “hold” rating in a research note on Wednesday. Susquehanna Bancshares set a $25.00 target price on HP and gave the stock a “hold” rating in a research note on Thursday, October 4th. Argus restated a “buy” rating on shares of HP in a research note on Monday, October 8th. ValuEngine upgraded HP from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Finally, Deutsche Bank boosted their target price on HP from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $27.44.
HP stock traded down $0.09 during trading on Wednesday, hitting $23.87. The stock had a trading volume of 358,453 shares, compared to its average volume of 9,058,753. HP Inc. has a 1 year low of $19.31 and a 1 year high of $27.08. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of -2.55. The company has a market cap of $40.78 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.96 and a beta of 1.64.
HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.51 by $0.01. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The business had revenue of $14.59 billion for the quarter, compared to the consensus estimate of $14.29 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. HP’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts forecast that HP Inc. will post 2.02 earnings per share for the current fiscal year.
HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
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