Mackenzie Financial Corp Boosts Stake in HP Inc. (NYSE:HPQ)

by · The Cerbat Gem

Mackenzie Financial Corp grew its position in shares of HP Inc. (NYSE:HPQ – Free Report) by 0.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 283,483 shares of the computer maker’s stock after acquiring an additional 733 shares during the period. Mackenzie Financial Corp’s holdings in HP were worth $7,850,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of HP in the 4th quarter worth approximately $36,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of HP in the 1st quarter worth approximately $35,000. CoreCap Advisors LLC grew its stake in shares of HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock worth $46,000 after buying an additional 587 shares during the last quarter. Iron Horse Wealth Management LLC purchased a new stake in shares of HP in the 1st quarter worth approximately $39,000. Finally, Financial Freedom LLC grew its stake in shares of HP by 141.4% in the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker’s stock worth $42,000 after buying an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

NYSE HPQ opened at $24.81 on Friday. The business’s fifty day moving average price is $25.26 and its 200-day moving average price is $27.71. The stock has a market capitalization of $23.30 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 2.03 and a beta of 1.27. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.79.

HP (NYSE:HPQ – Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio is 44.79%.

Analyst Ratings Changes

HPQ has been the topic of several recent research reports. Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered their price objective on HP from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, May 29th. TD Cowen lowered their price objective on HP from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. Citigroup lowered their price objective on HP from $29.00 to $27.50 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. Finally, Bank of America lowered their price objective on HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, HP has an average rating of “Hold” and an average price target of $29.54.

Check Out Our Latest Research Report on HPQ

HP Profile

(Free Report)

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.

Further Reading