Rheos Capital Works Inc. Sells 620,000 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Rheos Capital Works Inc. cut its position in Hewlett Packard Enterprise (NYSE:HPE) by 68.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 280,000 shares of the technology company’s stock after selling 620,000 shares during the quarter. Rheos Capital Works Inc.’s holdings in Hewlett Packard Enterprise were worth $5,729,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rise Advisors LLC boosted its stake in Hewlett Packard Enterprise by 253.9% in the first quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,051 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Hewlett Packard Enterprise by 571.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Hewlett Packard Enterprise in the second quarter worth about $28,000. American National Bank increased its holdings in shares of Hewlett Packard Enterprise by 89.4% during the first quarter. American National Bank now owns 1,949 shares of the technology company’s stock valued at $35,000 after acquiring an additional 920 shares in the last quarter. Finally, ORG Partners LLC increased its holdings in shares of Hewlett Packard Enterprise by 224.5% during the second quarter. ORG Partners LLC now owns 1,853 shares of the technology company’s stock valued at $39,000 after acquiring an additional 1,282 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Neil B. Macdonald sold 29,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $17.00, for a total value of $493,000.00. Following the completion of the sale, the executive vice president now owns 82,061 shares of the company’s stock, valued at approximately $1,395,037. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Neil B. Macdonald sold 29,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeremy Cox sold 7,770 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total transaction of $163,170.00. Following the completion of the transaction, the senior vice president now directly owns 7,771 shares in the company, valued at $163,191. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 426,012 shares of company stock worth $8,599,617 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HPE. Susquehanna reissued a “neutral” rating and set a $20.00 target price on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Citigroup began coverage on Hewlett Packard Enterprise in a research report on Monday, September 23rd. They issued a “neutral” rating and a $20.00 target price on the stock. Morgan Stanley restated an “equal weight” rating and issued a $21.00 target price on shares of Hewlett Packard Enterprise in a research note on Thursday, June 20th. UBS Group lifted their target price on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Hewlett Packard Enterprise in a report on Wednesday, October 9th. They issued a “hold” rating and a $22.00 price target on the stock. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.36.

Hewlett Packard Enterprise Stock Up 0.7 %

HPE stock opened at $20.89 on Thursday. Hewlett Packard Enterprise has a one year low of $14.47 and a one year high of $22.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94. The firm’s fifty day moving average is $18.98 and its 200 day moving average is $18.97. The firm has a market cap of $27.15 billion, a PE ratio of 15.25, a P/E/G ratio of 3.38 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 EPS. On average, research analysts forecast that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, September 19th. Hewlett Packard Enterprise’s payout ratio is 37.96%.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.