Mackenzie Financial Corp decreased its position in shares of Western Digital Corporation (NASDAQ:WDC) by 52.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 13,607 shares of the data storage provider’s stock after selling 14,965 shares during the period. Mackenzie Financial Corp’s holdings in Western Digital Corporation were worth $796,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the stock. Huntington National Bank boosted its stake in Western Digital Corporation by 511.2% in the third quarter. Huntington National Bank now owns 2,017 shares of the data storage provider’s stock valued at $119,000 after buying an additional 1,687 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Western Digital Corporation by 112.2% in the third quarter. Penserra Capital Management LLC now owns 2,122 shares of the data storage provider’s stock valued at $123,000 after buying an additional 1,122 shares during the last quarter. NEXT Financial Group Inc boosted its stake in Western Digital Corporation by 724.6% in the third quarter. NEXT Financial Group Inc now owns 2,177 shares of the data storage provider’s stock valued at $127,000 after buying an additional 1,913 shares during the last quarter. ClariVest Asset Management LLC boosted its stake in Western Digital Corporation by 1,465.2% in the third quarter. ClariVest Asset Management LLC now owns 2,786 shares of the data storage provider’s stock valued at $163,000 after buying an additional 2,608 shares during the last quarter. Finally, Eads & Heald Investment Counsel purchased a new stake in Western Digital Corporation during the third quarter valued at about $200,000. Hedge funds and other institutional investors own 88.19% of the company’s stock.
Shares of Western Digital Corporation (NASDAQ:WDC) traded down 0.88% during midday trading on Friday, reaching $77.36. 2,878,201 shares of the company were exchanged. The company’s market capitalization is $22.29 billion. The stock’s 50-day moving average price is $74.11 and its 200-day moving average price is $59.94. Western Digital Corporation has a 52-week low of $34.99 and a 52-week high of $81.67.
Western Digital Corporation (NASDAQ:WDC) last posted its quarterly earnings results on Wednesday, January 25th. The data storage provider reported $2.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.18. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.76 billion. Western Digital Corporation had a negative net margin of 2.56% and a positive return on equity of 13.38%. Western Digital Corporation’s revenue was up 47.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 earnings per share. Analysts anticipate that Western Digital Corporation will post $8.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, March 29th. Western Digital Corporation’s dividend payout ratio is currently -133.33%.
Several equities research analysts recently issued reports on WDC shares. RBC Capital Markets lifted their price objective on Western Digital Corporation to $90.00 in a report on Thursday, January 26th. Cowen and Company lifted their price objective on Western Digital Corporation to $89.00 in a report on Thursday, January 26th. TheStreet upgraded Western Digital Corporation from a “c” rating to a “b-” rating in a report on Wednesday, January 25th. Mizuho lifted their price objective on Western Digital Corporation from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, October 27th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $68.00 price objective on shares of Western Digital Corporation in a report on Friday, October 21st. Seven investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $81.46.
In other news, insider Michael D. Cordano sold 5,896 shares of the firm’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $79.00, for a total value of $465,784.00. Following the transaction, the insider now owns 61,767 shares of the company’s stock, valued at approximately $4,879,593. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael D. Cordano sold 7,753 shares of the firm’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $66.91, for a total transaction of $518,753.23. Following the completion of the transaction, the insider now directly owns 54,014 shares in the company, valued at approximately $3,614,076.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,098 shares of company stock worth $16,290,517. 0.46% of the stock is currently owned by insiders.
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).
Want to see what other hedge funds are holding WDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Western Digital Corporation (NASDAQ:WDC).
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/mackenzie-financial-corp-has-796000-position-in-western-digital-corporation-wdc/1656976.html
Receive News & Ratings for Western Digital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Western Digital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.