Cubic Asset Management LLC Takes $1.14 Million Position in Home Depot Inc (HD)

Cubic Asset Management LLC bought a new stake in shares of Home Depot Inc (NYSE:HD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,650 shares of the home improvement retailer’s stock, valued at approximately $1,143,000.

A number of other institutional investors also recently made changes to their positions in HD. Vanguard Group Inc. lifted its holdings in shares of Home Depot by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 82,981,380 shares of the home improvement retailer’s stock worth $17,189,593,000 after acquiring an additional 278,763 shares during the last quarter. Vanguard Group Inc raised its holdings in Home Depot by 0.3% during the 3rd quarter. Vanguard Group Inc now owns 82,981,380 shares of the home improvement retailer’s stock valued at $17,189,593,000 after buying an additional 278,763 shares during the last quarter. FMR LLC raised its holdings in Home Depot by 2.8% during the 3rd quarter. FMR LLC now owns 29,811,794 shares of the home improvement retailer’s stock valued at $6,175,512,000 after buying an additional 813,882 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Home Depot by 4.3% during the 3rd quarter. Alliancebernstein L.P. now owns 9,871,732 shares of the home improvement retailer’s stock valued at $2,044,929,000 after buying an additional 407,767 shares during the last quarter. Finally, Capital International Investors raised its holdings in Home Depot by 129.2% during the 3rd quarter. Capital International Investors now owns 7,080,765 shares of the home improvement retailer’s stock valued at $1,466,780,000 after buying an additional 3,991,462 shares during the last quarter. Institutional investors and hedge funds own 70.81% of the company’s stock.

A number of equities research analysts recently commented on HD shares. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. DZ Bank lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Citigroup lowered their price target on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a report on Monday, April 1st. Deutsche Bank upped their price target on shares of Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Finally, Morgan Stanley upped their price target on shares of Home Depot from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $204.47.

Shares of Home Depot stock opened at $204.86 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. The firm has a market cap of $224.80 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.75 and a beta of 1.09. Home Depot Inc has a 12-month low of $158.09 and a 12-month high of $215.43.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.09. The business had revenue of $26.49 billion for the quarter, compared to the consensus estimate of $26.57 billion. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.69 EPS. On average, analysts forecast that Home Depot Inc will post 10.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $1.36 per share. This is an increase from Home Depot’s previous quarterly dividend of $1.03. This represents a $5.44 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, March 13th. Home Depot’s payout ratio is presently 55.01%.

Home Depot announced that its board has authorized a share buyback program on Tuesday, February 26th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, EVP Ann Marie Campbell sold 5,450 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the sale, the executive vice president now directly owns 51,030 shares of the company’s stock, valued at approximately $9,423,710.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edward P. Decker sold 23,744 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the sale, the executive vice president now directly owns 86,813 shares in the company, valued at $15,880,702.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,194 shares of company stock worth $7,553,141. Insiders own 0.25% of the company’s stock.

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Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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