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 cut its stake in HP Inc. (NYSE:HPQ) by 89.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,097 shares of the computer maker’s stock after selling 689,428 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in HP were worth $2,350,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts have weighed in on HPQ shares. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Morgan Stanley lifted their price target on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Bank of America increased their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Citigroup lifted their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Barclays increased their target price on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.64.

HP Stock Down 1.4 %

HP stock opened at $36.25 on Friday. 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 Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The business’s 50-day moving average price is $31.78 and its two-hundred day moving average price is $30.34.

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

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.04%. HP’s dividend payout ratio is currently 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.