Bank of Montreal Can purchased a new stake in shares of The Home Depot Inc. (NYSE:HD) during the second quarter, Holdings Channel reports. The firm purchased 2,639,534 shares of the home improvement retailer’s stock, valued at approximately $337,042,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC bought a new stake in The Home Depot during the first quarter valued at $1,086,000. North Star Investment Management Corp. increased its stake in The Home Depot by 7.8% in the first quarter. North Star Investment Management Corp. now owns 2,798 shares of the home improvement retailer’s stock valued at $373,000 after buying an additional 203 shares during the period. Acropolis Investment Management LLC increased its stake in The Home Depot by 4.2% in the first quarter. Acropolis Investment Management LLC now owns 5,911 shares of the home improvement retailer’s stock valued at $789,000 after buying an additional 240 shares during the period. PacWest Financial Management Inc increased its stake in The Home Depot by 1.3% in the first quarter. PacWest Financial Management Inc now owns 20,895 shares of the home improvement retailer’s stock valued at $2,788,000 after buying an additional 258 shares during the period. Finally, IMS Capital Management increased its stake in The Home Depot by 3.2% in the first quarter. IMS Capital Management now owns 9,808 shares of the home improvement retailer’s stock valued at $1,309,000 after buying an additional 305 shares during the period. 71.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Home Depot Inc. (NYSE:HD) traded up 0.67% on Wednesday, hitting $126.69. 3,545,888 shares of the stock were exchanged. The firm’s 50 day moving average price is $129.84 and its 200 day moving average price is $132.51. The Home Depot Inc. has a one year low of $109.62 and a one year high of $139.00. The firm has a market cap of $156.53 billion, a price-to-earnings ratio of 21.44 and a beta of 0.97.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.97. The company earned $26.47 billion during the quarter, compared to analyst estimates of $26.47 billion. The Home Depot had a net margin of 8.08% and a return on equity of 110.52%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $1.71 EPS. Equities analysts anticipate that The Home Depot Inc. will post $6.33 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Tuesday, August 30th. The Home Depot’s dividend payout ratio is currently 46.54%.
Several analysts recently weighed in on HD shares. Nomura upgraded shares of The Home Depot from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $155.00 in a report on Thursday, June 23rd. Zacks Investment Research downgraded shares of The Home Depot from a “buy” rating to a “sell” rating in a report on Tuesday, July 19th. RBC Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (up previously from $150.00) on shares of The Home Depot in a report on Wednesday, August 17th. Citigroup Inc. lifted their target price on shares of The Home Depot from $152.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Finally, Jefferies Group reiterated a “buy” rating and issued a $156.00 target price on shares of The Home Depot in a report on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $146.86.
In other news, CFO Carol B. Tome sold 97,610 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $135.35, for a total value of $13,211,513.50. Following the transaction, the chief financial officer now directly owns 644,831 shares in the company, valued at approximately $87,277,875.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 11,671 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $136.03, for a total transaction of $1,587,606.13. Following the completion of the transaction, the executive vice president now owns 44,107 shares in the company, valued at $5,999,875.21. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.
About The Home Depot
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 serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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