Harvest Capital Strategies LLC decreased its holdings in shares of Western Digital Corp (NASDAQ:WDC) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,000 shares of the data storage provider’s stock after selling 125,000 shares during the period. Western Digital comprises 4.1% of Harvest Capital Strategies LLC’s portfolio, making the stock its 4th biggest holding. Harvest Capital Strategies LLC owned about 0.10% of Western Digital worth $23,859,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in WDC. Iridian Asset Management LLC CT raised its position in Western Digital by 1.2% in the 4th quarter. Iridian Asset Management LLC CT now owns 5,989,267 shares of the data storage provider’s stock worth $476,326,000 after purchasing an additional 68,610 shares during the last quarter. Geode Capital Management LLC raised its position in Western Digital by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 3,919,230 shares of the data storage provider’s stock worth $311,171,000 after purchasing an additional 171,959 shares during the last quarter. Lyrical Asset Management LP raised its position in Western Digital by 3.2% in the 4th quarter. Lyrical Asset Management LP now owns 3,307,454 shares of the data storage provider’s stock worth $263,042,000 after purchasing an additional 103,165 shares during the last quarter. Bank of New York Mellon Corp raised its position in Western Digital by 22.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,281,695 shares of the data storage provider’s stock worth $283,538,000 after purchasing an additional 598,563 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Western Digital by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,086,925 shares of the data storage provider’s stock worth $266,720,000 after purchasing an additional 83,030 shares during the last quarter. Hedge funds and other institutional investors own 84.97% of the company’s stock.
Shares of Western Digital Corp (NASDAQ WDC) opened at $102.26 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.03 and a current ratio of 2.55. Western Digital Corp has a 52-week low of $71.38 and a 52-week high of $106.30. The company has a market cap of $30,620.00, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.11.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $2.00 annualized dividend and a yield of 1.96%. Western Digital’s dividend payout ratio (DPR) is presently 30.67%.
Several research firms recently weighed in on WDC. TheStreet cut shares of Western Digital from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. BidaskClub upgraded shares of Western Digital from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Royal Bank of Canada restated a “buy” rating on shares of Western Digital in a research report on Friday, December 22nd. UBS Group began coverage on shares of Western Digital in a research report on Tuesday, March 6th. They issued a “hold” rating and a $90.00 price objective for the company. Finally, Vetr cut shares of Western Digital from a “buy” rating to a “hold” rating and set a $95.09 price objective for the company. in a research report on Tuesday, November 21st. Twelve equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $111.62.
In other news, CFO Mark P. Long sold 4,466 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $84.20, for a total value of $376,037.20. Following the sale, the chief financial officer now directly owns 88,383 shares of the company’s stock, valued at approximately $7,441,848.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen D. Milligan sold 16,511 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $84.00, for a total transaction of $1,386,924.00. Following the completion of the sale, the chief executive officer now directly owns 156,882 shares in the company, valued at $13,178,088. The disclosure for this sale can be found here. Insiders have sold a total of 261,105 shares of company stock worth $23,899,380 over the last three months. Insiders own 0.31% of the company’s stock.
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About Western Digital
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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