Atalan Capital Partners LP bought a new stake in Western Digital Co. (NASDAQ:WDC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,050,000 shares of the data storage provider's stock, valued at approximately $62,612,000. Western Digital comprises 6.2% of Atalan Capital Partners LP's holdings, making the stock its 7th biggest holding. Atalan Capital Partners LP owned approximately 0.30% of Western Digital as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Western Digital by 32.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,131 shares of the data storage provider's stock valued at $2,691,000 after acquiring an additional 11,013 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Western Digital by 6.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 841,700 shares of the data storage provider's stock valued at $50,191,000 after purchasing an additional 50,188 shares in the last quarter. Principal Financial Group Inc. raised its position in Western Digital by 4.0% in the fourth quarter. Principal Financial Group Inc. now owns 390,826 shares of the data storage provider's stock worth $23,305,000 after purchasing an additional 15,189 shares in the last quarter. Ieq Capital LLC grew its position in Western Digital by 83.9% in the fourth quarter. Ieq Capital LLC now owns 31,634 shares of the data storage provider's stock valued at $1,886,000 after acquiring an additional 14,432 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in Western Digital by 53.3% during the 4th quarter. Handelsbanken Fonder AB now owns 99,444 shares of the data storage provider's stock valued at $5,930,000 after purchasing an additional 34,579 shares during the last quarter. Institutional investors own 92.51% of the company's stock.
Western Digital Stock Performance
WDC traded up $0.55 during trading on Thursday, hitting $44.85. 2,190,854 shares of the stock were exchanged, compared to its average volume of 6,329,027. The company has a quick ratio of 1.26, a current ratio of 1.99 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $15.60 billion, a P/E ratio of 10.68 and a beta of 1.42. Western Digital Co. has a 1-year low of $28.83 and a 1-year high of $81.55. The stock has a fifty day moving average price of $40.18 and a two-hundred day moving average price of $56.65.
Western Digital (NASDAQ:WDC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The data storage provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.06 by $0.30. Western Digital had a net margin of 9.95% and a return on equity of 15.68%. The company had revenue of ($1,465.00) million for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business's revenue was down 33.6% on a year-over-year basis. As a group, sell-side analysts predict that Western Digital Co. will post 4.89 earnings per share for the current year.
Western Digital Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, June 4th. Western Digital's dividend payout ratio (DPR) is 7.58%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on WDC shares. Rosenblatt Securities lowered their price target on shares of Western Digital from $76.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Citigroup decreased their price objective on Western Digital from $64.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 14th. TD Securities lowered their price target on Western Digital from $80.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Summit Insights upgraded Western Digital from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, Robert W. Baird cut their price objective on shares of Western Digital from $100.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $64.15.
Get Our Latest Stock Report on Western Digital
Insider Transactions at Western Digital
In other news, SVP Gene M. Zamiska sold 1,659 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now directly owns 43,776 shares in the company, valued at approximately $1,810,575.36. The trade was a 3.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company's stock.
Western Digital Company Profile
(
Free Report)
Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.
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