SSgA Funds Management, Inc. recently announced the acquisition of new stake in Hewlett Packard Enterprise Co (NYSE:HPE). The institutional investor has increased its shareholding in the Technology company by 0.88% to 68.61 million shares with purchase of 0.6 million shares. This fresh investment now brings its stake to 5.35% valued currently at $1.16 billion. In addition, Managed Account Advisors LLC raised its holdings by 14.34 million to 40.61 million shares. And Geode Capital Management LLC has lifted its position by 2.10% or 0.58 million shares – to 28.39 million shares.
With over 13.55 million Hewlett Packard Enterprise Co (HPE) shares trading Friday and a closing price of $17.17 on the day, the dollar volume was approximately $232.74 million. The shares have shown a positive half year performance of 1.78% and its price on 01/05/24 gained nearly 1.00%. Currently, there are 1.30B common shares owned by the public and among those 1.29B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 20 analysts who have offered their price forecasts for HPE have a consensus price objective of $17.84. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $15.00. The average price target is 3.76% above its recent price level and a downside to the estimated low will see the stock lose -14.47% over that period. But an upside of 18.24% will see the stock hit the forecast high price target while median target price for the stock is $17.20.
Insiders at the company have transacted a total of 59 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 1,348,862 shares. Insider sales of the common stock occurred on 26 occasions, with total insider shares sold totaling 2,055,413 shares.
The top 3 mutual fund holders in Hewlett Packard Enterprise Co are Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Dodge & Cox Stock Fund owns 41.86 million shares of the company’s stock, all valued at over $707.81 million. The company bought an additional 0.23 million shares recently to bring their total holdings to about 3.26% of the shares outstanding. Vanguard Total Stock Market ETF bought 51628.0 shares to see its total holdings expand to 40.46 million shares valued at over $684.19 million and representing 3.15% of the shares outstanding. Vanguard 500 Index Fund bought 0.14 million shares to bring its total holdings to over 31.18 million shares at a value of $527.18 million. Vanguard 500 Index Fund now owns shares totaling to 2.43% of the shares outstanding.
Shares of Hewlett Packard Enterprise Co (NYSE: HPE) opened at $16.95, down -$0.05 from a prior closing price of $17.00. The company’s stock has a 5-day price change of 0.00% and 2.26% over the past three months. HPE shares are trading 1.12% year to date (YTD), with the 12-month market performance up to 4.57% higher. It has a 12-month low price of $13.65 and touched a high of $18.14 over the same period. HPE has an average intraday trading volume of 10.58 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 2.35%, 5.90%, and 5.86% respectively.
Institutional ownership of Hewlett Packard Enterprise Co (NYSE: HPE) shares accounts for 83.61% of the company’s 1.30B shares outstanding. Mutual fund holders own 37.99%, while other institutional holders and individual stakeholders account for 47.42% and 0.54% respectively.
It has a market capitalization of $22.32B and a beta (3y monthly) value of 1.22. The stock’s trailing 12-month PE ratio is 11.16, while the earnings-per-share (ttm) stands at $1.54. The company has a PEG of 4.52 and a Quick Ratio of 0.65 with the debt-to-equity ratio at 0.64. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.11% over the week and 1.99% over the month.
Analysts forecast that Hewlett Packard Enterprise Co (HPE) will achieve an EPS of $0.45 for the current quarter, $0.46 for the next quarter and $2.12 for 2025. The lowest estimate earnings-per-share for the quarter is $0.43 while analysts give the company a high EPS estimate of $0.5. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to decrease by -10.22%, and 10.49% over the next financial year. EPS should shrink at an annualized rate of 2.47% over the next five years, compared to 4.61% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 20 brokerage firm advisors rate Hewlett Packard Enterprise Co (HPE) as a “Moderate Buy” at a consensus score of 2.55. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 14 of the 20 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the HPE, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on November 30, 2023, with the firm’s price target at $16.
