Sather Financial Group Inc Acquires New Position in Western Digital Corporation $WDC

Key Points

• Sather Financial Group Inc has acquired a new position in Western Digital Corporation by purchasing 3,500 shares valued at approximately $224,000.
• The current market capitalization of Western Digital is $39.57 billion, with a price-to-earnings (PE) ratio of 22.41.
• Western Digital recently declared a quarterly dividend of $0.10 per share, representing a 0.3% dividend yield.

Sather Financial Group Inc acquired a new stake in Western Digital Corporation (NASDAQ:WDC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,500 shares of the data storage provider's stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Western Digital by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 42,938,495 shares of the data storage provider's stock valued at $1,736,003,000 after acquiring an additional 478,728 shares during the period. Alyeska Investment Group L.P. grew its holdings in Western Digital by 130.0% during the 1st quarter. Alyeska Investment Group L.P. now owns 5,029,359 shares of the data storage provider's stock valued at $203,337,000 after buying an additional 2,842,822 shares in the last quarter. Northern Trust Corp grew its holdings in Western Digital by 1.5% during the 1st quarter. Northern Trust Corp now owns 3,449,811 shares of the data storage provider's stock valued at $139,476,000 after buying an additional 52,140 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Western Digital by 107.1% during the first quarter. Deutsche Bank AG now owns 3,369,331 shares of the data storage provider's stock worth $136,222,000 after purchasing an additional 1,742,481 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Western Digital by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,933,278 shares of the data storage provider's stock worth $118,574,000 after purchasing an additional 216,387 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors.

Western Digital Price Performance

Shares of NASDAQ:WDC opened at $115.42 on Friday. Western Digital Corporation has a 1-year low of $28.83 and a 1-year high of $137.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.08 and a quick ratio of 0.84. The business has a fifty day moving average price of $94.78 and a 200-day moving average price of $67.08. The company has a market capitalization of $39.57 billion, a PE ratio of 22.41, a PEG ratio of 0.97 and a beta of 1.77.

Western Digital (NASDAQ:WDC - Get Free Report) last issued its quarterly earnings results on Monday, April 7th. The data storage provider reported $1.78 earnings per share for the quarter. Western Digital had a return on equity of 24.93% and a net margin of 14.13%.The firm had revenue of $4.10 billion during the quarter. As a group, equities analysts expect that Western Digital Corporation will post 4.89 EPS for the current fiscal year.

Western Digital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. Western Digital's dividend payout ratio (DPR) is presently 7.77%.

Insider Buying and Selling

In other news, insider Cynthia L. Tregillis sold 14,067 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $74.78, for a total transaction of $1,051,930.26. Following the completion of the transaction, the insider directly owned 135,351 shares in the company, valued at $10,121,547.78. This trade represents a 9.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Gene M. Zamiska sold 3,160 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $75.68, for a total value of $239,148.80. Following the transaction, the senior vice president owned 31,560 shares of the company's stock, valued at $2,388,460.80. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,730 shares of company stock valued at $3,921,594 over the last ninety days. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WDC shares. Susquehanna boosted their price objective on Western Digital from $40.00 to $62.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Benchmark increased their price objective on Western Digital from $85.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, September 15th. TD Cowen upped their target price on Western Digital from $58.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wedbush upped their target price on Western Digital from $78.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Mizuho upped their target price on Western Digital from $87.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Seventeen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Western Digital currently has a consensus rating of "Moderate Buy" and an average price target of $94.63.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.

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