Kennondale Capital Management LLC Acquires 14,261 Shares of HP Inc. (NYSE:HPQ)

Kennondale Capital Management LLC lifted its stake in HP Inc. (NYSE:HPQ - Free Report) by 48.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,547 shares of the computer maker's stock after purchasing an additional 14,261 shares during the period. Kennondale Capital Management LLC's holdings in HP were worth $1,206,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after purchasing an additional 579,525 shares during the last quarter. Gotham Asset Management LLC raised its stake in HP by 23.6% during the 4th quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock worth $20,864,000 after buying an additional 122,289 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in HP during the 4th quarter worth $9,481,000. BayBridge Capital Group LLC acquired a new stake in HP during the 1st quarter worth $1,505,000. Finally, National Bank of Canada FI raised its stake in HP by 71.7% during the 4th quarter. National Bank of Canada FI now owns 698,376 shares of the computer maker's stock worth $22,788,000 after buying an additional 291,525 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Trading Down 0.7%

Shares of NYSE HPQ traded down $0.19 during mid-day trading on Thursday, hitting $25.69. The company had a trading volume of 3,993,363 shares, compared to its average volume of 8,330,578. The company has a market capitalization of $24.13 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27. The firm has a 50-day simple moving average of $25.67 and a two-hundred day simple moving average of $28.04. HP Inc. has a one year low of $21.21 and a one year high of $39.79.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share 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 the consensus estimate of $13.09 billion. HP had a net margin of 4.64% and a negative return on equity of 244.99%. HP's revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. Sell-side analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

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 issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is 44.40%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HPQ. TD Cowen dropped their price objective on HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Morgan Stanley dropped their price objective on HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 29th. Wall Street Zen raised HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Wells Fargo & Company dropped their price objective on HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, May 29th. Finally, Barclays set a $28.00 price target on HP and gave the company an "equal weight" rating in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $29.54.

HP Company Profile

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.