BB&T Investment Services Inc. increased its holdings in Home Depot Inc (NYSE:HD) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,673 shares of the home improvement retailer’s stock after buying an additional 450 shares during the quarter. BB&T Investment Services Inc.’s holdings in Home Depot were worth $919,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of HD. Janus Henderson Group PLC grew its holdings in Home Depot by 2,013.2% during the 2nd quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock valued at $509,247,000 after buying an additional 3,162,631 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Home Depot by 8,118.8% during the third quarter. Stifel Financial Corp now owns 1,174,227 shares of the home improvement retailer’s stock worth $191,976,000 after acquiring an additional 1,159,940 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Home Depot during the second quarter worth about $133,780,000. Parametric Portfolio Associates LLC grew its stake in shares of Home Depot by 35.2% during the second quarter. Parametric Portfolio Associates LLC now owns 3,265,338 shares of the home improvement retailer’s stock worth $500,903,000 after acquiring an additional 850,074 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Home Depot by 14.4% during the second quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock worth $930,903,000 after acquiring an additional 761,586 shares during the last quarter. 70.36% of the stock is owned by institutional investors and hedge funds.
Shares of Home Depot Inc (NYSE:HD) traded up $2.88 during trading hours on Friday, reaching $188.35. The company’s stock had a trading volume of 4,219,309 shares, compared to its average volume of 5,880,000. Home Depot Inc has a one year low of $144.25 and a one year high of $207.60. The firm has a market capitalization of $219,950.00, a P/E ratio of 25.45, a PEG ratio of 1.44 and a beta of 1.08. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.17 and a quick ratio of 0.39.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The company had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. During the same period in the previous year, the company posted $1.44 earnings per share. Home Depot’s revenue for the quarter was up 7.5% on a year-over-year basis. equities research analysts anticipate that Home Depot Inc will post 9.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, March 7th. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s dividend payout ratio is 48.11%.
Home Depot declared that its board has initiated a stock buyback program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
A number of brokerages have recently weighed in on HD. BMO Capital Markets boosted their price target on Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research note on Thursday. Telsey Advisory Group restated an “outperform” rating and set a $217.00 price target (down previously from $220.00) on shares of Home Depot in a research note on Wednesday. SunTrust Banks boosted their price target on Home Depot to $187.00 and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Argus restated a “buy” rating and set a $215.00 price target (up previously from $190.00) on shares of Home Depot in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $193.38.
In related news, CEO Craig A. Menear sold 113,687 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $183.79, for a total transaction of $20,894,533.73. Following the transaction, the chief executive officer now owns 237,957 shares of the company’s stock, valued at approximately $43,734,117.03. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Matt Carey sold 41,396 shares of the stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the transaction, the executive vice president now directly owns 29,559 shares in the company, valued at approximately $5,410,183.77. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
Home Depot Company Profile
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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