Summit Street Capital Management LLC Takes Position in HP Inc. $HPQ

Summit Street Capital Management LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,189,974 shares of the computer maker’s stock, valued at approximately $26,108,000. HP accounts for 3.7% of Summit Street Capital Management LLC’s holdings, making the stock its 9th biggest holding. Summit Street Capital Management LLC owned 0.13% of HP as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HPQ. Man Group plc acquired a new stake in shares of HP during the second quarter worth about $149,223,000. Western Wealth Management LLC acquired a new position in shares of HP in the 2nd quarter valued at approximately $730,000. Jupiter Topco LLC bought a new stake in HP during the 2nd quarter worth approximately $2,790,000. Primecap Management Co. CA acquired a new stake in HP during the 2nd quarter worth approximately $545,984,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of HP during the second quarter worth $239,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America lifted their price target on HP from $16.00 to $18.00 and gave the company an “underperform” rating in a research note on Thursday, May 28th. Morgan Stanley reduced their target price on shares of HP from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of HP from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Barclays increased their price target on HP from $16.00 to $19.00 and gave the company an “underweight” rating in a research report on Thursday, May 28th. Finally, Weiss Ratings upgraded HP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, HP has a consensus rating of “Reduce” and a consensus price target of $24.17.

HP Stock Performance

Shares of HPQ stock opened at $30.62 on Thursday. The firm’s 50-day moving average is $26.11 and its 200-day moving average is $22.63. The stock has a market cap of $28.00 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 4.90 and a beta of 1.17. HP Inc. has a 52-week low of $17.56 and a 52-week high of $32.19.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 26th. The computer maker reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.17. The business had revenue of $15.68 billion during the quarter, compared to analysts’ expectations of $14.44 billion. HP had a negative return on equity of 581.36% and a net margin of 4.45%.HP’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. HP has set its FY 2026 guidance at 3.190-3.290 EPS and its Q4 2026 guidance at 0.690-0.790 EPS. Sell-side analysts predict that HP Inc. will post 3.03 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. HP’s payout ratio is presently 44.28%.

Trending Headlines about HP

Here are the key news stories impacting HP this week:

• Positive Sentiment: HP reported fiscal Q3 revenue of $15.7 billion, up 12.5% year over year and above analyst expectations. Non-GAAP EPS was $0.83, exceeding consensus estimates, while operating cash flow reached $1.7 billion and free cash flow totaled $1.6 billion. HP Inc. Reports Fiscal 2026 Third Quarter Results
• Positive Sentiment: Management raised its fiscal 2026 EPS outlook to $3.19-$3.29, above the roughly $3.02 consensus, and forecast fourth-quarter EPS of $0.69-$0.79, also ahead of expectations. Price increases on premium and AI-enabled PCs, along with expected tariff refunds, are expected to offset higher memory costs. HP forecasts strong fourth-quarter profit on price hikes, US tariff refunds
• Neutral Sentiment: Personal Systems revenue rose 18% to $11.8 billion, but Printing revenue fell 2% to $3.9 billion. HP also signed a multiyear Wi-Fi patent cross-licensing agreement with Huawei, which could support technology access but may attract additional scrutiny because Huawei is on the U.S. Entity List. HP partners with U.S.-blacklisted Huawei for licensing the Chinese company’s WiFi tech
• Negative Sentiment: GAAP net income fell to $661 million from $763 million, and GAAP EPS declined to $0.71 from $0.80. Results also included a $0.11-per-share benefit from tariff refunds, while non-GAAP operating margin contracted to 6.5% from 7.1%. Investors appeared to view the earnings beat and raised guidance as insufficient relative to expectations, triggering a sharp post-earnings selloff. HP shares tumble despite earnings beat, raised guidance

Insider Transactions at HP

In other HP news, insider David P. Mcquarrie sold 21,048 shares of HP stock in a transaction on Friday, August 7th. The shares were sold at an average price of $29.98, for a total transaction of $631,019.04. Following the completion of the transaction, the insider directly owned 39,580 shares of the company’s stock, valued at $1,186,608.40. The trade was a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 52,620 shares of company stock worth $1,478,622. Company insiders own 0.18% of the company’s stock.

HP Profile

HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.

Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.