Irenic Capital Management LP Purchases New Stake in Hewlett Packard Enterprise Company $HPE

Irenic Capital Management LP acquired a new stake in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 785,000 shares of the technology company's stock, valued at approximately $18,691,000. Hewlett Packard Enterprise comprises about 1.2% of Irenic Capital Management LP's portfolio, making the stock its 19th biggest holding. Irenic Capital Management LP owned approximately 0.06% of Hewlett Packard Enterprise at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Hewlett Packard Enterprise by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 173,058,714 shares of the technology company's stock valued at $4,156,870,000 after purchasing an additional 1,917,719 shares in the last quarter. Capital World Investors acquired a new position in Hewlett Packard Enterprise in the fourth quarter worth about $901,751,000. Geode Capital Management LLC grew its stake in Hewlett Packard Enterprise by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 34,869,143 shares of the technology company's stock worth $835,626,000 after purchasing an additional 431,728 shares in the last quarter. Elliott Investment Management L.P. increased its holdings in Hewlett Packard Enterprise by 47.2% in the first quarter. Elliott Investment Management L.P. now owns 27,421,735 shares of the technology company's stock valued at $652,912,000 after buying an additional 8,790,757 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Hewlett Packard Enterprise in the fourth quarter valued at about $433,537,000. 80.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HPE has been the topic of several research reports. Raymond James Financial upped their price objective on Hewlett Packard Enterprise from $29.00 to $74.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Susquehanna lifted their target price on Hewlett Packard Enterprise from $21.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. Citigroup boosted their price target on Hewlett Packard Enterprise from $70.00 to $74.00 and gave the company a "buy" rating in a report on Friday, July 24th. Zacks Research raised Hewlett Packard Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 10th. Finally, Truist Financial restated a "buy" rating and set a $69.00 price objective (up from $31.00) on shares of Hewlett Packard Enterprise in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $67.31.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, CFO Marie Myers sold 93,583 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $30.01, for a total transaction of $2,808,425.83. Following the completion of the transaction, the chief financial officer owned 204,754 shares in the company, valued at approximately $6,144,667.54. The trade was a 31.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 6,482 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $29.10, for a total transaction of $188,626.20. Following the completion of the sale, the director directly owned 8,018 shares of the company's stock, valued at $233,323.80. The trade was a 44.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 118,850 shares of company stock valued at $3,908,125 in the last three months. 0.44% of the stock is currently owned by corporate insiders.

Hewlett Packard Enterprise Price Performance

HPE opened at $45.59 on Wednesday. The firm has a market cap of $60.37 billion, a price-to-earnings ratio of 42.61, a price-to-earnings-growth ratio of 0.52 and a beta of 1.42. Hewlett Packard Enterprise Company has a fifty-two week low of $19.64 and a fifty-two week high of $64.25. The company's 50-day moving average price is $45.69 and its 200 day moving average price is $31.77. The company has a quick ratio of 0.75, a current ratio of 1.09 and a debt-to-equity ratio of 0.72.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its earnings results on Monday, June 1st. The technology company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.25. The company had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $9.78 billion. Hewlett Packard Enterprise had a return on equity of 11.91% and a net margin of 3.94%.Hewlett Packard Enterprise's quarterly revenue was up 40.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.82) earnings per share. Hewlett Packard Enterprise has set its FY 2026 guidance at 3.350-3.450 EPS and its Q3 2026 guidance at 0.880-0.930 EPS. As a group, sell-side analysts expect that Hewlett Packard Enterprise Company will post 2.88 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.1425 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.57 annualized dividend and a dividend yield of 1.3%. Hewlett Packard Enterprise's payout ratio is currently 53.27%.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE's product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.

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