Whirlpool Corporation (NYSE:WHR) Stake Boosted by CIBC Asset Management Inc
CIBC Asset Management Inc boosted its position in Whirlpool Corporation (NYSE:WHR) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 7,118 shares of the company’s stock after buying an additional 21 shares during the period. CIBC Asset Management Inc’s holdings in Whirlpool Corporation were worth $1,364,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Global X Management Co. LLC increased its stake in shares of Whirlpool Corporation by 33.1% in the first quarter. Global X Management Co. LLC now owns 989 shares of the company’s stock worth $169,000 after buying an additional 246 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Whirlpool Corporation during the first quarter worth $196,000. LLBH Private Wealth Management LLC increased its stake in shares of Whirlpool Corporation by 0.4% in the first quarter. LLBH Private Wealth Management LLC now owns 1,177 shares of the company’s stock worth $202,000 after buying an additional 5 shares during the period. IBM Retirement Fund purchased a new stake in shares of Whirlpool Corporation during the second quarter worth $205,000. Finally, Scout Investments Inc. purchased a new stake in shares of Whirlpool Corporation during the first quarter worth $206,000. 94.84% of the stock is owned by institutional investors.
Whirlpool Corporation (WHR) opened at 171.74 on Friday. The company has a 50-day moving average of $187.02 and a 200 day moving average of $181.07. The company has a market cap of $12.53 billion, a P/E ratio of 17.19 and a beta of 1.79. Whirlpool Corporation has a 52 week low of $145.91 and a 52 week high of $202.99.
Whirlpool Corporation (NYSE:WHR) last released its quarterly earnings results on Wednesday, July 26th. The company reported $3.35 EPS for the quarter, missing the Zacks’ consensus estimate of $3.54 by $0.19. Whirlpool Corporation had a return on equity of 18.17% and a net margin of 3.61%. The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the firm earned $3.50 EPS. Whirlpool Corporation’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Whirlpool Corporation will post $14.63 EPS for the current fiscal year.
Whirlpool Corporation declared that its board has approved a share buyback program on Wednesday, July 26th that authorizes the company to repurchase $2.35 billion in shares. This repurchase authorization authorizes the company to buy up to 16.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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WHR has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $216.00 price target on shares of Whirlpool Corporation in a report on Friday, June 2nd. BidaskClub downgraded shares of Whirlpool Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Whirlpool Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Credit Suisse Group initiated coverage on shares of Whirlpool Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $208.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Whirlpool Corporation presently has a consensus rating of “Hold” and a consensus price target of $194.71.
In related news, Director William D. Perez purchased 1,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was acquired at an average price of $176.93 per share, with a total value of $176,930.00. Following the purchase, the director now directly owns 7,239 shares in the company, valued at $1,280,796.27. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.69% of the stock is owned by insiders.
About Whirlpool Corporation
Whirlpool Corporation is a manufacturer and marketer of home appliances. The Company’s segments include North America; Europe, Middle East and Africa (EMEA); Latin America, and Asia. In North America, the Company markets and distributes home appliances and small domestic appliances under a range of brand names.
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