Zimmer Partners LP Acquires Shares of 75,000 Whirlpool Corporation $WHR

Key Points

• Zimmer Partners LP has acquired a new stake in Whirlpool Corporation, purchasing 75,000 shares valued at approximately $6.76 million during the first quarter.
• Whirlpool's recent earnings report showed an EPS of $1.34, which fell short of analysts' expectations by $0.20, contributing to a revenue decline of 5.4% year-over-year.
• The company announced a quarterly dividend of $0.90, resulting in an annual yield of 3.8%, though it carries a negative payout ratio of -135.85%.

Zimmer Partners LP acquired a new position in shares of Whirlpool Corporation (NYSE:WHR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 75,000 shares of the company's stock, valued at approximately $6,760,000. Zimmer Partners LP owned about 0.13% of Whirlpool at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Whirlpool by 40.4% in the 1st quarter. UMB Bank n.a. now owns 448 shares of the company's stock worth $40,000 after buying an additional 129 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in Whirlpool by 3.7% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 4,184 shares of the company's stock worth $377,000 after buying an additional 149 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Whirlpool by 3.0% in the first quarter. State of Alaska Department of Revenue now owns 6,487 shares of the company's stock worth $584,000 after buying an additional 190 shares in the last quarter. Ascent Group LLC boosted its position in shares of Whirlpool by 4.2% in the fourth quarter. Ascent Group LLC now owns 4,963 shares of the company's stock valued at $568,000 after acquiring an additional 198 shares during the period. Finally, Harmony Asset Management LLC boosted its position in shares of Whirlpool by 3.3% in the fourth quarter. Harmony Asset Management LLC now owns 6,259 shares of the company's stock valued at $717,000 after acquiring an additional 200 shares during the period. 90.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WHR has been the topic of a number of analyst reports. Loop Capital reaffirmed a "hold" rating and set a $88.00 target price on shares of Whirlpool in a report on Monday, August 4th. Bank of America reaffirmed an "underperform" rating and issued a $70.00 price target (down previously from $100.00) on shares of Whirlpool in a report on Tuesday, July 29th. Longbow Research upgraded Whirlpool from a "neutral" rating to a "buy" rating and set a $145.00 price objective on the stock in a research report on Monday, June 30th. Wall Street Zen cut Whirlpool from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Royal Bank Of Canada lowered their price target on Whirlpool from $65.00 to $63.00 and set an "underperform" rating on the stock in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Whirlpool presently has an average rating of "Hold" and an average target price of $98.83.

Whirlpool Price Performance

Shares of WHR traded down $2.69 during midday trading on Friday, reaching $92.27. The stock had a trading volume of 893,774 shares, compared to its average volume of 1,314,571. The company has a current ratio of 0.85, a quick ratio of 0.46 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of -34.82 and a beta of 1.16. The company's 50-day moving average is $93.47 and its 200 day moving average is $89.21. Whirlpool Corporation has a 12-month low of $73.72 and a 12-month high of $135.49.

Whirlpool (NYSE:WHR - Get Free Report) last issued its earnings results 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 positive return on equity of 20.81% and a negative net margin of 0.95%.The firm had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.88 billion. During the same period in the prior year, the company earned $2.39 EPS. The firm's quarterly revenue was down 5.4% compared to the same quarter last year. Whirlpool has set its FY 2025 guidance at 6.000-8.000 EPS. On average, equities analysts predict that Whirlpool Corporation will post 9.52 EPS for the current fiscal year.

Whirlpool Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.90 dividend. The ex-dividend date is Friday, August 29th. This represents a $3.60 annualized dividend and a dividend yield of 3.9%. Whirlpool's payout ratio is currently -135.85%.

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.