Mackenzie Financial Corp Buys 10,492 Shares of HP Inc. (NYSE:HPQ)

Mackenzie Financial Corp grew its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 282,750 shares of the computer maker's stock after acquiring an additional 10,492 shares during the quarter. Mackenzie Financial Corp's holdings in HP were worth $9,226,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in HP in the 4th quarter valued at about $229,320,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in HP in the 4th quarter valued at about $65,260,000. Northern Trust Corp grew its position in HP by 15.8% in the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after buying an additional 1,755,942 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in HP in the 4th quarter valued at about $55,915,000. Finally, Freestone Grove Partners LP bought a new position in HP in the 4th quarter valued at about $50,957,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HPQ. Barclays set a $28.00 target price on shares of HP and gave the company an "equal weight" rating in a research report on Thursday. Evercore ISI dropped their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Loop Capital dropped their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. TD Cowen dropped their price target on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $29.54.

Insider Activity

In related news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company's stock, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

HP Price Performance

NYSE HPQ traded down $0.07 on Friday, hitting $24.88. 16,291,226 shares of the company were exchanged, compared to its average volume of 7,824,290. The company's 50 day moving average price is $25.95 and its 200-day moving average price is $30.61. The firm has a market capitalization of $23.45 billion, a P/E ratio of 8.85, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. HP's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.65%. HP's dividend payout ratio is 44.40%.

HP 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.