Teachers Retirement System of The State of Kentucky Sells 689,428 Shares of HP Inc. (NYSE:HPQ)

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of HP Inc. (NYSE:HPQ) by 89.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 78,097 shares of the computer maker’s stock after selling 689,428 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in HP were worth $2,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Kestra Advisory Services LLC lifted its stake in shares of HP by 7.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 26,032 shares of the computer maker’s stock valued at $669,000 after buying an additional 1,732 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of HP during the third quarter worth $2,311,000. Envestnet Asset Management Inc. boosted its holdings in shares of HP by 30.5% in the third quarter. Envestnet Asset Management Inc. now owns 909,188 shares of the computer maker’s stock worth $23,366,000 after acquiring an additional 212,698 shares during the period. CI Investments Inc. boosted its holdings in shares of HP by 2.9% in the third quarter. CI Investments Inc. now owns 25,454 shares of the computer maker’s stock worth $654,000 after acquiring an additional 709 shares during the period. Finally, Rathbones Group PLC boosted its holdings in shares of HP by 114.6% in the third quarter. Rathbones Group PLC now owns 27,005 shares of the computer maker’s stock worth $694,000 after acquiring an additional 14,420 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HPQ. Morgan Stanley raised their price target on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. TD Cowen raised their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company upped their price target on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. Finally, Citigroup lifted their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.64.

HP Stock Down 1.4 %

HPQ opened at $36.25 on Friday. The business’s fifty day simple moving average is $31.78 and its 200 day simple moving average is $30.34. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The stock has a market cap of $35.47 billion, a PE ratio of 12.25, a P/E/G ratio of 2.34 and a beta of 1.12.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 EPS. As a group, equities analysts anticipate that HP Inc. will post 3.45 earnings per share for the current year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.04%. HP’s dividend payout ratio (DPR) is 37.16%.

HP Company Profile

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.