Villere ST Denis J & Co. LLC raised its position in shares of Western Digital Corporation (NASDAQ:WDC) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,030,918 shares of the data storage provider’s stock after buying an additional 7,238 shares during the period. Western Digital Corporation accounts for 5.3% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 3rd largest position. Villere ST Denis J & Co. LLC owned approximately 0.35% of Western Digital Corporation worth $91,339,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WDC. Vanguard Group Inc. raised its position in Western Digital Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 28,741,455 shares of the data storage provider’s stock worth $2,372,032,000 after buying an additional 1,250,528 shares during the period. Iridian Asset Management LLC CT raised its position in Western Digital Corporation by 244.0% in the first quarter. Iridian Asset Management LLC CT now owns 5,541,511 shares of the data storage provider’s stock worth $457,341,000 after buying an additional 3,930,465 shares during the last quarter. Ameriprise Financial Inc. raised its position in Western Digital Corporation by 10.4% in the first quarter. Ameriprise Financial Inc. now owns 4,038,573 shares of the data storage provider’s stock worth $333,102,000 after buying an additional 380,404 shares during the last quarter. Geode Capital Management LLC raised its position in Western Digital Corporation by 9.6% in the first quarter. Geode Capital Management LLC now owns 3,031,364 shares of the data storage provider’s stock worth $249,848,000 after buying an additional 264,706 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Western Digital Corporation by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,978,975 shares of the data storage provider’s stock worth $245,876,000 after buying an additional 7,910 shares during the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Western Digital Corporation (NASDAQ WDC) opened at 79.90 on Friday. Western Digital Corporation has a 12 month low of $44.43 and a 12 month high of $95.77. The stock has a market capitalization of $23.33 billion, a P/E ratio of 59.63 and a beta of 1.22. The company’s 50-day moving average is $88.96 and its 200 day moving average is $84.38.
Western Digital Corporation (NASDAQ:WDC) last posted its earnings results on Thursday, July 27th. The data storage provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.42. Western Digital Corporation had a return on equity of 21.23% and a net margin of 2.08%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. Equities research analysts predict that Western Digital Corporation will post $12.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 annualized dividend and a yield of 2.50%. Western Digital Corporation’s dividend payout ratio (DPR) is presently 156.25%.
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A number of research firms recently weighed in on WDC. Summit Redstone reissued a “buy” rating on shares of Western Digital Corporation in a research report on Saturday, July 22nd. Loop Capital started coverage on shares of Western Digital Corporation in a research report on Monday, July 24th. They issued a “buy” rating and a $140.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Western Digital Corporation in a research report on Friday, July 14th. Mizuho reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Western Digital Corporation in a research report on Monday, July 17th. Finally, Vetr lowered shares of Western Digital Corporation from a “strong-buy” rating to a “buy” rating and set a $102.77 price objective on the stock. in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Western Digital Corporation has a consensus rating of “Buy” and a consensus price target of $104.93.
In other news, COO Michael D. Cordano sold 4,954 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $94.98, for a total transaction of $470,530.92. Following the sale, the chief operating officer now owns 66,092 shares in the company, valued at $6,277,418.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Charles Ray sold 1,365 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $89.54, for a total value of $122,222.10. Following the sale, the executive vice president now owns 42,771 shares in the company, valued at approximately $3,829,715.34. The disclosure for this sale can be found here. Insiders sold 126,966 shares of company stock worth $11,263,675 in the last quarter. 0.46% of the stock is owned by insiders.
About Western Digital Corporation
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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