Foundry Partners LLC Sells 700 Shares of HP Inc. (NYSE:HPQ)

Foundry Partners LLC decreased its position in HP Inc. (NYSE:HPQ) by 5.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,075 shares of the computer maker’s stock after selling 700 shares during the quarter. Foundry Partners LLC’s holdings in HP were worth $397,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HPQ. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of HP in the first quarter valued at about $160,000. Toronto Dominion Bank increased its position in shares of HP by 0.9% during the 1st quarter. Toronto Dominion Bank now owns 541,667 shares of the computer maker’s stock worth $16,369,000 after purchasing an additional 4,799 shares during the last quarter. Epoch Investment Partners Inc. raised its stake in shares of HP by 8.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 20,599 shares of the computer maker’s stock worth $623,000 after purchasing an additional 1,549 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of HP by 3,567.3% in the 1st quarter. Lazard Asset Management LLC now owns 34,143 shares of the computer maker’s stock valued at $1,030,000 after buying an additional 33,212 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of HP by 1.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,191,666 shares of the computer maker’s stock valued at $36,013,000 after buying an additional 15,675 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

HP Price Performance

Shares of NYSE HPQ opened at $38.13 on Friday. The firm has a market cap of $36.75 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.52 and a beta of 1.07. The stock’s fifty day moving average price is $36.36 and its two-hundred day moving average price is $35.31. HP Inc. has a one year low of $27.42 and a one year high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the company posted $0.86 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on HPQ shares. JPMorgan Chase & Co. dropped their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. UBS Group lifted their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Loop Capital dropped their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Finally, Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.45.

HP Company Profile

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.