A few months ago, HP Enterprise President and CEO Meg Whitman was said to be one of the contenders to fill in the shoes of Uber founder Travis Kalanick.
Whitman, 61, took over Hewlett-Packard Co after it suffered a series of missed targets amid rising competition under her predecessor, Leo Apotheker. Dodge & Cox lifted its position in shares of Hewlett Packard Enterprise by 12.2% during the second quarter.
Traders are feeling more bullish on the company lately if you take a look at the change in short interest. Pzena Investment Management LLC lifted its position in shares of Hewlett Packard Enterprise by 69.7% during the third quarter. Meridian Investment Counsel Inc. now owns 23,557 shares of the technology company's stock valued at $391,000 after acquiring an additional 350 shares during the last quarter. This is a boost from Hewlett Packard Enterprise's previous quarterly dividend of $0.07. Vanguard Group Inc is the second biggest holder with 111 million shares now valued at 1.84 B million whilst PRIMECAP Management Company has 90 million shares valued at 1.33 B million. JPMorgan Chase & Co. now owns 15,073,920 shares of the technology company's stock worth $250,075,000 after purchasing an additional 4,339,462 shares during the last quarter.
COPYRIGHT VIOLATION NOTICE: "Jeff T. Ricci Sells 87,324 Shares of Hewlett Packard Enterprise Company (NYSE:HPE) Stock" was posted by Week Herald and is owned by of Week Herald. The shares were sold on November 6th for an average price of $13.36. Following the sale, the chief financial officer now directly owns 177,634 shares of the company's stock, valued at approximately $2,449,572.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
In other news, CEO Margaret C. Whitman sold 249,052 shares of the stock in a transaction on Thursday, September 14th. The shares were sold on November 6th for an average price of $13.43.
As of the end of the quarter State Street Corp had disposed of a total of 2,250,358 shares trimming its position 3.0%. Ricci now owns $0 of the stock according to the SEC filing.
When she took over, "Hewlett-Packard "was an enormous conglomerate, ' Whitman said, that confused customers because it sold too many disparate products", Fortune " s Jonathan Vanian reports. The company has market cap of $22.87 billion. Technology companies are taking losses as the two former halves of Hewlett-Packard tumble, and banks are down as interest rates slip. The company has a quick ratio of 1.15, a current ratio of 1.27 and a debt-to-equity ratio of 0.50.
As well as the leadership shakeup, HPE shared its earnings report on Tuesday.
They expect $0.28 EPS, down 117.86% or $0.33 from last year's $0.61 per share.
Looking forward, for the quarter ending Oct-17, 20 analysts have a mean sales target of 7,754.57 million. Hewlett Packard Enterprise had a net margin of 0.29% and a return on equity of 9.04%. The firm's revenue was up 4.6% on a year-over-year basis. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be given a $0.075 dividend. Hewlett Packard Enterprise's dividend payout ratio is now 144.44%. This represents a $0.30 annualized dividend and a yield of 2.12%. The ex-dividend date is Tuesday, December 12th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is now 371.48%. Like several other analysts, Steven Milunovich of UBS said Neri is a good choice, but that Whitman will be hard to replace. October 20 investment analysts at KeyCorp maintained a "Hold" rating on the company. The firm earned "Buy" rating on Wednesday, August 16 by Jefferies. Finally, Loop Capital assumed coverage on shares of Hewlett Packard Enterprise in a research report on Tuesday, August 22nd.