Kennondale Capital Management LLC Invests $956,000 in HP Inc. (NYSE:HPQ)

Kennondale Capital Management LLC bought a new stake in HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,286 shares of the computer maker’s stock, valued at approximately $956,000.

Other hedge funds also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its holdings in HP by 108.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,213 shares of the computer maker’s stock worth $546,000 after acquiring an additional 7,924 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in HP by 15.6% during the third quarter. CIBC Asset Management Inc now owns 167,533 shares of the computer maker’s stock worth $6,009,000 after purchasing an additional 22,580 shares during the last quarter. Kentucky Retirement Systems grew its position in HP by 4.8% in the 3rd quarter. Kentucky Retirement Systems now owns 68,172 shares of the computer maker’s stock worth $2,445,000 after purchasing an additional 3,136 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of HP by 4.1% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,973 shares of the computer maker’s stock worth $1,039,000 after buying an additional 1,136 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of HP by 34.9% during the 3rd quarter. Natixis Advisors LLC now owns 1,042,963 shares of the computer maker’s stock worth $37,411,000 after buying an additional 269,781 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HPQ. JPMorgan Chase & Co. decreased their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Morgan Stanley decreased their target price on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Sanford C. Bernstein boosted their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Citigroup decreased their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and an average target price of $36.14.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by insiders.

HP Stock Up 1.7 %

NYSE:HPQ opened at $28.91 on Tuesday. The stock has a market cap of $27.25 billion, a P/E ratio of 10.29, a PEG ratio of 2.96 and a beta of 1.09. The business’s 50-day moving average price is $32.26 and its two-hundred day moving average price is $34.37. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. On average, equities research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.00%. HP’s dividend payout ratio (DPR) is presently 41.37%.

About HP

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.