ClariVest Asset Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 28.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,098 shares of the home improvement retailer’s stock after selling 34,265 shares during the period. Home Depot makes up about 1.0% of ClariVest Asset Management LLC’s investment portfolio, making the stock its 17th biggest position. ClariVest Asset Management LLC’s holdings in Home Depot were worth $23,888,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Measured Wealth Private Client Group LLC grew its position in Home Depot by 1.5% during the second quarter. Measured Wealth Private Client Group LLC now owns 2,294 shares of the home improvement retailer’s stock valued at $629,000 after acquiring an additional 33 shares during the period. Bernardo Wealth Planning LLC boosted its position in shares of Home Depot by 5.1% in the first quarter. Bernardo Wealth Planning LLC now owns 706 shares of the home improvement retailer’s stock worth $211,000 after buying an additional 34 shares during the period. First National Corp MA ADV boosted its position in shares of Home Depot by 1.4% in the second quarter. First National Corp MA ADV now owns 2,505 shares of the home improvement retailer’s stock worth $687,000 after buying an additional 35 shares during the period. Personal CFO Solutions LLC boosted its position in shares of Home Depot by 1.2% in the second quarter. Personal CFO Solutions LLC now owns 2,872 shares of the home improvement retailer’s stock worth $788,000 after buying an additional 35 shares during the period. Finally, Insight Folios Inc boosted its position in shares of Home Depot by 2.1% in the second quarter. Insight Folios Inc now owns 1,730 shares of the home improvement retailer’s stock worth $475,000 after buying an additional 36 shares during the period. 68.66% of the stock is currently owned by hedge funds and other institutional investors.
Home Depot Stock Performance
Shares of Home Depot stock traded down $3.37 on Thursday, reaching $321.51. 4,243,427 shares of the company were exchanged, compared to its average volume of 4,538,733. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.33 and a current ratio of 1.39. The company’s 50-day moving average is $288.63 and its two-hundred day moving average is $292.78. The firm has a market cap of $329.14 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.74 and a beta of 0.95. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61.
Home Depot Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, November 30th. Home Depot’s dividend payout ratio (DPR) is 45.81%.
Home Depot declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 18th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Home Depot from $347.00 to $300.00 in a research report on Friday, November 11th. UBS Group increased their price target on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Exane BNP Paribas downgraded Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 price target for the company. in a report on Wednesday, October 19th. Cowen began coverage on Home Depot in a report on Wednesday, October 19th. They issued an “outperform” rating and a $350.00 price target for the company. Finally, Morgan Stanley increased their price target on Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $346.29.
Insider Buying and Selling
In other Home Depot news, Director Paula Santilli acquired 1,583 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The stock was acquired at an average cost of $315.80 per share, with a total value of $499,911.40. Following the acquisition, the director now directly owns 1,583 shares of the company’s stock, valued at approximately $499,911.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Home Depot news, EVP Fahim Siddiqui sold 2,000 shares of the stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $311.29, for a total transaction of $622,580.00. Following the completion of the transaction, the executive vice president now directly owns 3,928 shares of the company’s stock, valued at approximately $1,222,747.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paula Santilli purchased 1,583 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were purchased at an average cost of $315.80 per share, with a total value of $499,911.40. Following the completion of the purchase, the director now owns 1,583 shares in the company, valued at approximately $499,911.40. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.
Home Depot 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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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