Trade Report: The Kanawha Capital Management LLC Cuts Stake in Hewlett Packard Enterprise Co. (HPE)

The Kanawha Capital Management LLC Cuts Stake in Hewlett Packard Enterprise Co. (HPE)

Kanawha Capital Management LLC decreased its stake in shares of Hewlett Packard Enterprise Co. (NYSE:HPE) by 62.8% during the second quarter, Holdings Channel reports. The institutional investor owned 24,321 shares of the company’s stock after selling 41,107 shares during the period. Kanawha Capital Management LLC’s holdings in Hewlett Packard Enterprise were worth $444,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. HBK Investments L P raised its stake in Hewlett Packard Enterprise by 53.1% in the first quarter. HBK Investments L P now owns 159,519 shares of the company’s stock valued at $2,828,000 after buying an additional 55,305 shares in the last quarter. Newbrook Capital Advisors LP purchased a new stake in shares of Hewlett Packard Enterprise during the first quarter valued at about $24,210,000. Dodge & Cox raised its stake in shares of Hewlett Packard Enterprise by 3.0% in the first quarter. Dodge & Cox now owns 224,069,718 shares of the company’s stock valued at $3,972,756,000 after buying an additional 6,540,190 shares during the period. Fairpointe Capital LLC raised its stake in shares of Hewlett Packard Enterprise by 19.7% in the first quarter. Fairpointe Capital LLC now owns 98,350 shares of the company’s stock valued at $1,743,000 after buying an additional 16,200 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Hewlett Packard Enterprise during the first quarter valued at about $3,400,000. 80.51% of the stock is owned by institutional investors.

Hewlett Packard Enterprise Co. (NYSE:HPE) traded down 1.15% during trading on Friday, reaching $21.51. The company had a trading volume of 7,194,555 shares. The stock has a 50 day moving average of $22.21 and a 200-day moving average of $19.52. Hewlett Packard Enterprise Co. has a 12-month low of $11.62 and a 12-month high of $23.53. The stock has a market capitalization of $35.83 billion and a P/E ratio of 8.97.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Wednesday, September 7th. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. Hewlett Packard Enterprise had a net margin of 8.31% and a return on equity of 10.15%. The firm earned $12.20 billion during the quarter, compared to the consensus estimate of $12.64 billion. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts forecast that Hewlett Packard Enterprise Co. will post $1.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 12th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, October 7th. Hewlett Packard Enterprise’s dividend payout ratio is presently 9.17%.

Several equities research analysts have issued reports on the company. Citigroup Inc. raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $20.00 to $25.00 in a research note on Monday, July 25th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Hewlett Packard Enterprise in a research note on Thursday, September 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $24.50 price target on shares of Hewlett Packard Enterprise in a research note on Tuesday, September 20th. Raymond James Financial Inc. assumed coverage on Hewlett Packard Enterprise in a research note on Wednesday, August 17th. They set a “market perform” rating and a $22.07 price target for the company. Finally, Oppenheimer Holdings Inc. set a $25.00 price target on Hewlett Packard Enterprise and gave the stock a “buy” rating in a research note on Thursday, September 8th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.60.

In other news, CFO Timothy C. Stonesifer sold 101,610 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $22.01, for a total transaction of $2,236,436.10. Following the completion of the sale, the chief financial officer now owns 101,610 shares of the company’s stock, valued at $2,236,436.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Youngjohns sold 8,622 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $19.69, for a total transaction of $169,767.18. Following the sale, the executive vice president now directly owns 18,033 shares of the company’s stock, valued at approximately $355,069.77. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company is a provider of technology solutions. The Company operates through five segments: Enterprise Group, Software, Enterprise Services, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).

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