Primecap Management Co. CA Sells 51,060 Shares of Whirlpool Corporation (NYSE:WHR)

Key Points

• Primecap Management Co. CA reduced its stake in Whirlpool Corporation by 1.1%, selling 51,060 shares and owning a total of 4,619,526 shares, valued at approximately $416.36 million.
• Whirlpool Corporation saw mixed ratings from analysts, with three analysts giving sell ratings, two holding, and two recommending buy, reflecting caution in the market.
• The company reported a quarterly loss with earnings per share of $1.34, missing estimates and showing a 5.4% decline in revenue year-over-year.

Primecap Management Co. CA decreased its position in shares of Whirlpool Corporation (NYSE:WHR - Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,619,526 shares of the company's stock after selling 51,060 shares during the quarter. Primecap Management Co. CA owned 8.31% of Whirlpool worth $416,358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Whirlpool during the first quarter worth about $83,000. Cheviot Value Management LLC bought a new stake in Whirlpool during the first quarter worth about $36,000. HHM Wealth Advisors LLC lifted its position in Whirlpool by 77.2% during the first quarter. HHM Wealth Advisors LLC now owns 560 shares of the company's stock worth $50,000 after purchasing an additional 244 shares during the period. North Star Asset Management Inc. raised its stake in Whirlpool by 11.2% during the first quarter. North Star Asset Management Inc. now owns 2,870 shares of the company's stock worth $259,000 after acquiring an additional 288 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its stake in Whirlpool by 33.8% during the first quarter. Arkadios Wealth Advisors now owns 23,020 shares of the company's stock worth $2,075,000 after acquiring an additional 5,810 shares in the last quarter. Institutional investors own 90.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WHR. Wall Street Zen downgraded Whirlpool from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Bank of America reissued an "underperform" rating and set a $70.00 target price (down previously from $100.00) on shares of Whirlpool in a research note on Tuesday, July 29th. Loop Capital downgraded Whirlpool from a "strong-buy" rating to a "hold" rating and set a $88.00 target price for the company. in a research note on Monday. Longbow Research raised Whirlpool from a "neutral" rating to a "buy" rating and set a $145.00 target price for the company in a research note on Monday, June 30th. Finally, Royal Bank Of Canada lowered their price objective on Whirlpool from $65.00 to $63.00 and set an "underperform" rating for the company in a research note on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $98.83.

Whirlpool Stock Performance

Whirlpool stock opened at $84.62 on Wednesday. The business has a 50 day moving average of $93.41 and a 200-day moving average of $93.11. Whirlpool Corporation has a 1 year low of $73.72 and a 1 year high of $135.49. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.85 and a quick ratio of 0.46. The company has a market capitalization of $4.73 billion, a P/E ratio of -31.93 and a beta of 1.17.

Whirlpool (NYSE:WHR - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.54 by ($0.20). Whirlpool had a negative net margin of 0.95% and a positive return on equity of 20.81%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.88 billion. During the same period in the prior year, the company earned $2.39 EPS. The business's quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Whirlpool Corporation will post 9.52 earnings per share for the current year.

About Whirlpool

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.

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