Mackenzie Financial Corp Has $28.31 Million Stock Position in Western Digital Corporation $WDC

by · The Cerbat Gem

Mackenzie Financial Corp trimmed its position in Western Digital Corporation (NASDAQ:WDC – Free Report) by 2.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 442,420 shares of the data storage provider’s stock after selling 13,278 shares during the period. Mackenzie Financial Corp’s holdings in Western Digital were worth $28,310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Wealth Management Group LLC grew its stake in Western Digital by 102.5% during the 2nd quarter. Private Wealth Management Group LLC now owns 399 shares of the data storage provider’s stock valued at $26,000 after acquiring an additional 202 shares in the last quarter. NewSquare Capital LLC increased its position in Western Digital by 86.9% during the second quarter. NewSquare Capital LLC now owns 441 shares of the data storage provider’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Western Digital in the 1st quarter valued at approximately $29,000. CNB Bank bought a new position in shares of Western Digital in the second quarter valued at approximately $37,000. Finally, Manchester Capital Management LLC raised its holdings in Western Digital by 47.2% in the 2nd quarter. Manchester Capital Management LLC now owns 577 shares of the data storage provider’s stock worth $37,000 after acquiring an additional 185 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insiders Place Their Bets

In other Western Digital news, CEO Irving Tan sold 20,000 shares of Western Digital stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $150.69, for a total value of $3,013,800.00. Following the completion of the transaction, the chief executive officer owned 645,467 shares in the company, valued at approximately $97,265,422.23. The trade was a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Alexy sold 1,768 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $154.00, for a total value of $272,272.00. Following the completion of the transaction, the director directly owned 3,585 shares in the company, valued at approximately $552,090. This represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 34,911 shares of company stock valued at $4,588,187. Company insiders own 0.18% of the company’s stock.

Western Digital Trading Up 3.7%

Shares of Western Digital stock opened at $163.62 on Monday. Western Digital Corporation has a 12-month low of $28.83 and a 12-month high of $178.45. The stock has a market capitalization of $55.94 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 1.14 and a beta of 1.81. The company has a 50-day simple moving average of $136.77 and a 200 day simple moving average of $93.39. The company has a quick ratio of 0.84, a current ratio of 1.08 and a debt-to-equity ratio of 0.47.

Western Digital (NASDAQ:WDC – Get Free Report) last released its quarterly earnings results on Monday, April 7th. The data storage provider reported $1.78 EPS for the quarter. The firm had revenue of $4.10 billion for the quarter. Western Digital had a net margin of 14.13% and a return on equity of 24.93%. Research analysts expect that Western Digital Corporation will post 4.89 earnings per share for the current fiscal year.

Western Digital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $0.125 per share. This is a boost from Western Digital’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, December 4th. This represents a $0.50 dividend on an annualized basis and a yield of 0.3%. Western Digital’s dividend payout ratio is currently 7.28%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on WDC shares. Benchmark raised their target price on Western Digital from $115.00 to $163.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Western Digital in a research note on Tuesday, November 25th. Robert W. Baird set a $180.00 target price on shares of Western Digital in a research note on Friday, October 31st. TD Cowen increased their price target on shares of Western Digital from $90.00 to $200.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Western Digital from $94.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.16.

View Our Latest Stock Analysis on WDC

About Western Digital

(Free Report)

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.

Further Reading

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