Dodge & Cox recently announced the acquisition of new stake in Hewlett Packard Enterprise Company (NYSE:HPE). The institutional investor has increased its shareholding in the Technology company by 14.69% to 154.88 million shares with purchase of 19.83 million shares. This fresh investment now brings its stake to 12.06% valued currently at $1.53 billion. In addition, The Vanguard Group, Inc. raised its holdings by 18.01 million to 143.73 million shares. And BlackRock Fund Advisors has lifted its position by 0.02% or 12842.0 shares – to 69.87 million shares.
With over 9.86 million Hewlett Packard Enterprise Company (HPE) shares trading Monday and a closing price of $9.67 on the day, the dollar volume was approximately $95.39 million. The shares have shown a positive weekly performance of 0.52% and its price on 08/31/20 lost nearly -1.63%. Currently, there are 1.29B common shares owned by the public and among those 1.28B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for HPE have a consensus price objective of $11.25. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $8.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Hewlett Packard Enterprise Company stock is 2.80 for the next 12 months. The average price target is 13.74% above its last price level and an upside to the estimated low will see the stock lose -13.76% over that period. But an upside of 35.53% will see the stock hit the forecast high price target while mean target price for the stock is $11.00.
Insiders at the company have transacted a total of 108 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 63 of these insider trades were purchases, accounting for 2,733,196 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 1,359,421 shares.
The top 3 mutual fund holders in Hewlett Packard Enterprise Company are Dodge & Cox Funds – Stock Fund, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market Index. Dodge & Cox Funds – Stock Fund owns 94.73 million shares of the company’s stock, all valued at over $934.97 million. The company bought an additional 13.1 million shares recently to bring their total holdings to about 7.37% of the shares outstanding. Vanguard PRIMECAP Fund sold -0.48 million shares to see its total holdings shrink to 37.65 million shares valued at over $371.6 million and representing 2.93% of the shares outstanding. Vanguard Total Stock Market Index sold -0.18 million shares to bring its total holdings to over 36.35 million shares at a value of $358.8 million. Vanguard Total Stock Market Index now owns shares totaling to 2.83% of the shares outstanding.
Shares of Hewlett Packard Enterprise Company (NYSE: HPE) opened at $9.83, unchanged from a prior closing price of $9.83. However, the script later closed the day at $9.67, down -1.63%. The company’s stock has a 5-day price change of 0.52% and -2.81% over the past three months. HPE shares are trading -39.03% year to date (YTD), with the 12-month market performance down to -30.03% lower. It has a 12-month low price of $7.43 and touched a high of $17.59 over the same period. Currently, 9.86 million shares have been traded, compared to an average intraday trading volume of 11.78 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.69%, 0.47%, and -18.44% respectively.
Institutional ownership of Hewlett Packard Enterprise Company (NYSE: HPE) shares accounts for 84.10% of the company’s 1.29B shares outstanding. Mutual fund holders own 30.88%, while other institutional holders and individual stakeholders account for 52.40% and 0.28% respectively.
It has a market capitalization of $12.09B and a beta (3y monthly) value of 1.25. The stock’s trailing 12-month PE ratio is 116.51, while the earnings-per-share (ttm) stands at $0.08. The company has a PEG of 93.81 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 1.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.22% over the week and 3.34% over the month.
Analysts forecast that Hewlett Packard Enterprise Company (HPE) will achieve an EPS of $0.34 for the current quarter, $0.33 for the next quarter and $1.47 for 2021. The lowest estimate earnings-per-share for the quarter is $0.3 while analysts give the company a high EPS estimate of $0.36. Comparatively, EPS for the current quarter was $0.49 a year ago. Earnings per share for the fiscal year are expected to decrease by -36.80%, and 12.87% over the next financial year. EPS should shrink at an annualized rate of 1.24% over the next five years, compared to 5.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Hewlett Packard Enterprise Company (HPE) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 14 of the 22 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the HPE, a number of firms have released research notes about the stock. Argus stated their Hold rating for the stock in a research note on May 27, 2020, with the firm’s price target at. JP Morgan coverage for the Hewlett Packard Enterprise Company (HPE) stock in a research note released on May 26, 2020 offered a Neutral rating with a price target of $11. Raymond James was of a view on May 22, 2020 that the stock is Mkt Perform, while Loop Capital gave the stock Hold rating on April 27, 2020, issuing a price target of $16- $10. RBC Capital Mkts on their part issued Sector Perform rating on April 22, 2020.