Schroder Investment Management Group Reduces Stake in Western Digital Co. (NASDAQ:WDC)

Schroder Investment Management Group decreased its holdings in shares of Western Digital Co. (NASDAQ:WDC) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,866 shares of the data storage provider’s stock after selling 6,082 shares during the quarter. Schroder Investment Management Group’s holdings in Western Digital were worth $1,960,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WDC. Public Sector Pension Investment Board raised its holdings in shares of Western Digital by 12.7% in the third quarter. Public Sector Pension Investment Board now owns 14,210 shares of the data storage provider’s stock valued at $970,000 after buying an additional 1,600 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Western Digital by 21.8% in the 3rd quarter. Captrust Financial Advisors now owns 11,177 shares of the data storage provider’s stock worth $763,000 after acquiring an additional 1,998 shares during the period. IHT Wealth Management LLC acquired a new position in shares of Western Digital during the third quarter worth about $246,000. Royal London Asset Management Ltd. increased its stake in shares of Western Digital by 3.0% during the third quarter. Royal London Asset Management Ltd. now owns 134,170 shares of the data storage provider’s stock worth $9,162,000 after acquiring an additional 3,884 shares during the period. Finally, Quarry LP raised its holdings in Western Digital by 22.6% during the third quarter. Quarry LP now owns 932 shares of the data storage provider’s stock worth $64,000 after purchasing an additional 172 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Western Digital

In other Western Digital news, SVP Gene M. Zamiska sold 1,659 shares of Western Digital stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $41.36, for a total value of $68,616.24. Following the completion of the sale, the senior vice president now owns 43,776 shares in the company, valued at $1,810,575.36. The trade was a 3.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.30% of the company’s stock.

Western Digital Stock Performance

Western Digital stock opened at $30.54 on Monday. Western Digital Co. has a fifty-two week low of $29.76 and a fifty-two week high of $81.55. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 7.27 and a beta of 1.39. The stock has a fifty day moving average of $52.70 and a two-hundred day moving average of $61.46. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.26 and a current ratio of 1.99.

Western Digital (NASDAQ:WDC) last posted its quarterly earnings data on Wednesday, January 29th. The data storage provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.36). Western Digital had a return on equity of 15.68% and a net margin of 9.95%. On average, analysts anticipate that Western Digital Co. will post 4.89 EPS for the current fiscal year.

Analysts Set New Price Targets

WDC has been the topic of several recent analyst reports. Citigroup boosted their target price on Western Digital from $60.45 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Barclays dropped their price objective on Western Digital from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. The Goldman Sachs Group raised their target price on Western Digital from $70.00 to $80.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Susquehanna decreased their target price on shares of Western Digital from $83.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, Bank of America cut their price target on shares of Western Digital from $89.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $80.21.

Western Digital Company Profile

Western Digital Corporation develops, manufactures, and sells data storage devices and solutions in the United States, China, Hong Kong, Europe, the Middle East, Africa, rest of Asia, and internationally. It offers client devices, including hard disk drives (HDDs) and solid state drives (SSDs) for desktop and notebook personal computers (PCs), gaming consoles, and set top boxes; and flash-based embedded storage products for mobile phones, tablets, notebook PCs, and other portable and wearable devices, as well as automotive, Internet of Things, industrial, and connected home applications.