Dana Investment Advisors Inc. raised its position in shares of Home Depot Inc (NYSE:HD) by 149.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 98,601 shares of the home improvement retailer’s stock after acquiring an additional 59,092 shares during the period. Dana Investment Advisors Inc.’s holdings in Home Depot were worth $16,127,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in HD. First Heartland Consultants Inc. increased its holdings in shares of Home Depot by 8.7% during the third quarter. First Heartland Consultants Inc. now owns 4,934 shares of the home improvement retailer’s stock worth $807,000 after buying an additional 393 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Home Depot by 3.4% in the third quarter. Coldstream Capital Management Inc. now owns 21,704 shares of the home improvement retailer’s stock valued at $3,550,000 after purchasing an additional 715 shares during the period. Marco Investment Management LLC increased its holdings in Home Depot by 0.7% in the third quarter. Marco Investment Management LLC now owns 73,637 shares of the home improvement retailer’s stock valued at $12,044,000 after purchasing an additional 530 shares during the period. Neuberger Berman Group LLC increased its holdings in Home Depot by 2.6% in the third quarter. Neuberger Berman Group LLC now owns 2,024,789 shares of the home improvement retailer’s stock valued at $331,174,000 after purchasing an additional 51,602 shares during the period. Finally, Guardian Capital LP increased its holdings in Home Depot by 3.2% in the third quarter. Guardian Capital LP now owns 58,064 shares of the home improvement retailer’s stock valued at $9,497,000 after purchasing an additional 1,788 shares during the period. Institutional investors and hedge funds own 70.36% of the company’s stock.
A number of analysts recently weighed in on the company. Deutsche Bank increased their price objective on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Argus increased their price objective on Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Telsey Advisory Group restated an “outperform” rating and issued a $220.00 price objective (up from $190.00) on shares of Home Depot in a report on Friday, January 19th. Jefferies Group restated a “buy” rating and issued a $223.00 price objective on shares of Home Depot in a report on Monday, February 5th. Finally, Wedbush restated a “hold” rating and issued a $190.00 price objective (up from $170.00) on shares of Home Depot in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $193.38.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.07. The company had revenue of $23.88 billion for the quarter, compared to analysts’ expectations of $23.65 billion. Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. equities research analysts expect that Home Depot Inc will post 9.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.26%. 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 dividend payout ratio is 48.90%.
Home Depot declared that its board has initiated a share buyback program on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Matt Carey sold 41,396 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owns 237,957 shares in the company, valued at approximately $43,734,117.03. The disclosure for this sale can be found here. Insiders have sold a total of 192,763 shares of company stock worth $35,489,520 in the last three months. 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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