Invenomic Capital Management LP Invests $2.84 Million in Whirlpool Corporation $WHR

Key Points

• Invenomic Capital Management LP acquired a new stake in Whirlpool Corporation, purchasing 31,501 shares worth approximately $2.84 million during Q1 2024.
• Whirlpool reported a EPS of $1.34, missing the consensus estimate by $0.20, with quarterly revenue of $3.77 billion, down 5.4% from the previous year.
• The company announced a quarterly dividend of $0.90, totaling an annualized yield of 3.8%, but has a negative payout ratio of -135.85%.

Invenomic Capital Management LP purchased a new stake in Whirlpool Corporation (NYSE:WHR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 31,501 shares of the company's stock, valued at approximately $2,839,000. Invenomic Capital Management LP owned 0.06% of Whirlpool as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cheviot Value Management LLC acquired a new position in shares of Whirlpool in the 1st quarter valued at about $36,000. UMB Bank n.a. boosted its holdings in shares of Whirlpool by 40.4% in the 1st quarter. UMB Bank n.a. now owns 448 shares of the company's stock valued at $40,000 after buying an additional 129 shares during the period. Manitou Investment Management Ltd. acquired a new position in shares of Whirlpool in the 1st quarter valued at about $50,000. HHM Wealth Advisors LLC boosted its holdings in shares of Whirlpool by 77.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 560 shares of the company's stock valued at $50,000 after buying an additional 244 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Whirlpool by 132.0% in the 1st quarter. GAMMA Investing LLC now owns 638 shares of the company's stock valued at $58,000 after buying an additional 363 shares during the period. 90.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WHR has been the topic of several recent research reports. Bank of America reiterated an "underperform" rating and issued a $70.00 price objective (down from $100.00) on shares of Whirlpool in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Whirlpool from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Loop Capital reiterated a "hold" rating and set a $88.00 price target on shares of Whirlpool in a research report on Monday, August 4th. Longbow Research raised Whirlpool from a "neutral" rating to a "buy" rating and set a $145.00 price target on the stock in a report on Monday, June 30th. Finally, Royal Bank Of Canada cut their price objective on shares of Whirlpool from $65.00 to $63.00 and set an "underperform" rating on the stock in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.83.

Whirlpool Price Performance

Shares of WHR stock traded up $1.10 during midday trading on Monday, reaching $95.54. 976,049 shares of the company were exchanged, compared to its average volume of 1,026,450. Whirlpool Corporation has a 12 month low of $73.72 and a 12 month high of $135.49. The company has a market cap of $5.34 billion, a P/E ratio of -36.05 and a beta of 1.16. The company's 50 day moving average price is $94.32 and its two-hundred day moving average price is $89.19. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.46 and a current ratio of 0.85.

Whirlpool (NYSE:WHR - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.54 by ($0.20). Whirlpool had a positive return on equity of 20.81% and a negative net margin of 0.95%.The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the firm earned $2.39 earnings per share. The firm's revenue for the quarter was down 5.4% compared to the same quarter last year. Whirlpool has set its FY 2025 guidance at 6.000-8.000 EPS. On average, sell-side analysts expect that Whirlpool Corporation will post 9.52 earnings per share for the current year.

Whirlpool Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, August 29th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.8%. Whirlpool's payout ratio is currently -135.85%.

Whirlpool Company Profile

Whirlpool Corporation manufactures and markets home appliances and related products and services in the North America, Europe, the Middle East, Africa, Latin America, and Asia. The company's principal products include refrigerators, freezers, ice makers, and refrigerator water filters; laundry appliances, and commercial laundry products and related laundry accessories; cooking and other small domestic appliances; and dishwasher appliances and related accessories, as well as mixers.