PGGM Investments cut its position in Western Digital Corporation (NASDAQ:WDC) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,102 shares of the data storage provider’s stock after selling 624 shares during the period. PGGM Investments’ holdings in Western Digital Corporation were worth $12,236,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. Cleararc Capital Inc. increased its position in shares of Western Digital Corporation by 1.3% in the first quarter. Cleararc Capital Inc. now owns 7,045 shares of the data storage provider’s stock worth $581,000 after buying an additional 92 shares during the period. Chicago Equity Partners LLC increased its position in shares of Western Digital Corporation by 0.7% in the first quarter. Chicago Equity Partners LLC now owns 13,615 shares of the data storage provider’s stock worth $1,124,000 after buying an additional 95 shares during the period. Strs Ohio increased its position in shares of Western Digital Corporation by 1.1% in the first quarter. Strs Ohio now owns 9,902 shares of the data storage provider’s stock worth $817,000 after buying an additional 103 shares during the period. Honkamp Krueger Financial Services Inc. increased its position in shares of Western Digital Corporation by 3.0% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 4,546 shares of the data storage provider’s stock worth $375,000 after buying an additional 132 shares during the period. Finally, Huntington National Bank increased its position in shares of Western Digital Corporation by 7.7% in the second quarter. Huntington National Bank now owns 1,965 shares of the data storage provider’s stock worth $174,000 after buying an additional 141 shares during the period. 81.91% of the stock is owned by institutional investors.
Western Digital Corporation (NASDAQ WDC) opened at 82.48 on Friday. The firm has a 50-day moving average of $87.91 and a 200 day moving average of $84.53. Western Digital Corporation has a 12 month low of $45.25 and a 12 month high of $95.77. The stock has a market cap of $24.08 billion, a PE ratio of 61.55 and a beta of 1.22.
Western Digital Corporation (NASDAQ:WDC) last announced its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.42. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.82 billion. Western Digital Corporation had a net margin of 2.08% and a return on equity of 21.23%. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. Analysts anticipate that Western Digital Corporation will post $12.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.50 dividend. The ex-dividend date is Thursday, September 28th. This represents a $2.00 annualized dividend and a dividend yield of 2.43%. Western Digital Corporation’s dividend payout ratio (DPR) is presently 156.25%.
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A number of brokerages have recently issued reports on WDC. BMO Capital Markets reaffirmed a “buy” rating and set a $104.00 price target on shares of Western Digital Corporation in a research report on Thursday, April 27th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $140.00 price target on shares of Western Digital Corporation in a research report on Wednesday, May 17th. Maxim Group reaffirmed a “buy” rating and set a $108.00 price target on shares of Western Digital Corporation in a research report on Wednesday, June 21st. UBS AG reaffirmed a “neutral” rating and set a $92.00 price target (up from $90.00) on shares of Western Digital Corporation in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Western Digital Corporation in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $104.66.
In other news, EVP Michael Charles Ray sold 524 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $92.30, for a total value of $48,365.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark P. Long sold 1,517 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $80.97, for a total transaction of $122,831.49. Following the transaction, the chief financial officer now owns 88,207 shares in the company, valued at $7,142,120.79. The disclosure for this sale can be found here. Insiders sold 123,644 shares of company stock valued at $10,946,300 over the last 90 days. Insiders own 0.46% of the company’s stock.
Western Digital Corporation Company Profile
Western Digital Corporation (Western Digital) is a developer, manufacturer and provider of data storage devices and solutions that address the needs of the information technology (IT) industry and the infrastructure that enables the proliferation of data in virtually every industry. The Company’s portfolio of offerings addresses three categories: Datacenter Devices and Solutions (capacity and performance enterprise hard disk drives (HDDs), enterprise solid state drives (SSDs), datacenter software and system solutions); Client Devices (mobile, desktop, gaming and digital video hard drives, client SSDs, embedded products and wafers), and Client Solutions (removable products, hard drive content solutions and flash content solutions).
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