Valeo Financial Advisors LLC acquired a new position in Home Depot Inc (NYSE:HD) during the 3rd quarter, Holdings Channel reports. The fund acquired 3,223 shares of the home improvement retailer’s stock, valued at approximately $527,000.
A number of other hedge funds also recently made changes to their positions in HD. Atlantic Trust LLC increased its stake in shares of Home Depot by 12.8% in the second quarter. Atlantic Trust LLC now owns 20,332 shares of the home improvement retailer’s stock worth $3,119,000 after purchasing an additional 2,309 shares in the last quarter. APG Asset Management N.V. increased its stake in shares of Home Depot by 6.3% in the third quarter. APG Asset Management N.V. now owns 2,242,180 shares of the home improvement retailer’s stock worth $366,731,000 after purchasing an additional 133,300 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Home Depot by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,133,380 shares of the home improvement retailer’s stock worth $512,473,000 after purchasing an additional 8,344 shares in the last quarter. HM Payson & Co. increased its stake in shares of Home Depot by 88.2% in the third quarter. HM Payson & Co. now owns 143,617 shares of the home improvement retailer’s stock worth $23,490,000 after purchasing an additional 67,309 shares in the last quarter. Finally, Andra AP fonden increased its stake in shares of Home Depot by 1.4% in the second quarter. Andra AP fonden now owns 106,299 shares of the home improvement retailer’s stock worth $16,306,000 after purchasing an additional 1,499 shares in the last quarter. 70.36% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. SunTrust Banks lifted their target price on shares of Home Depot to $187.00 and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Credit Suisse Group set a $222.00 target price on shares of Home Depot and gave the stock a “buy” rating in a research note on Wednesday, February 21st. BMO Capital Markets lifted their target price on shares of Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Zacks Investment Research downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. Finally, Wedbush reiterated a “hold” rating and issued a $190.00 target price (up previously from $170.00) on shares of Home Depot in a research note on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $193.38.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.07. Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The business had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $23.65 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. sell-side analysts expect that Home Depot Inc will post 9.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, March 7th. This is a boost from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s payout ratio is currently 48.11%.
Home Depot announced that its Board of Directors has authorized a share buyback program on Wednesday, December 6th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other Home Depot news, CEO Craig A. Menear sold 113,687 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total value of $20,894,533.73. Following the completion of 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 link. Also, EVP Ann Marie Campbell sold 37,680 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $186.26, for a total transaction of $7,018,276.80. Following the completion of the sale, the executive vice president now owns 53,459 shares of the company’s stock, valued at $9,957,273.34. The disclosure for this sale can be found here. In the last three months, insiders sold 192,763 shares of company stock valued at $35,489,520. Corporate insiders own 0.26% of the company’s stock.
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About 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 serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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