KCS Wealth Advisory lowered its stake in shares of Home Depot Inc (NYSE:HD) by 10.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,971 shares of the home improvement retailer’s stock after selling 346 shares during the quarter. KCS Wealth Advisory’s holdings in Home Depot were worth $510,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in HD. Pinnacle Financial Partners Inc. raised its position in shares of Home Depot by 13.5% during the third quarter. Pinnacle Financial Partners Inc. now owns 21,114 shares of the home improvement retailer’s stock worth $4,374,000 after purchasing an additional 2,504 shares during the period. Prudential Financial Inc. raised its position in shares of Home Depot by 3.5% during the third quarter. Prudential Financial Inc. now owns 1,348,582 shares of the home improvement retailer’s stock worth $279,359,000 after purchasing an additional 45,754 shares during the period. Physicians Financial Services Inc. raised its position in shares of Home Depot by 3.3% during the second quarter. Physicians Financial Services Inc. now owns 8,676 shares of the home improvement retailer’s stock worth $1,693,000 after purchasing an additional 280 shares during the period. Sanders Morris Harris LLC raised its position in shares of Home Depot by 5.6% during the third quarter. Sanders Morris Harris LLC now owns 5,619 shares of the home improvement retailer’s stock worth $1,164,000 after purchasing an additional 300 shares during the period. Finally, Private Wealth Partners LLC raised its position in shares of Home Depot by 2.1% during the third quarter. Private Wealth Partners LLC now owns 39,983 shares of the home improvement retailer’s stock worth $8,282,000 after purchasing an additional 838 shares during the period. Institutional investors own 68.07% of the company’s stock.
In other Home Depot news, EVP Mark Holifield sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the transaction, the executive vice president now owns 39,794 shares of the company’s stock, valued at approximately $7,306,178.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 5,450 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 51,030 shares of the company’s stock, valued at approximately $9,423,710.10. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock valued at $7,553,141 in the last three months. 0.25% of the stock is owned by insiders.
Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.09. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The business had revenue of $26.49 billion during the quarter, compared to analysts’ expectations of $26.57 billion. During the same quarter in the previous year, the firm earned $1.69 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that Home Depot Inc will post 10.08 EPS for the current fiscal year.
Home Depot declared that its board has approved a stock repurchase plan on Tuesday, February 26th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be given a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s payout ratio is currently 55.01%.
A number of brokerages have recently issued reports on HD. Evercore ISI began coverage on Home Depot in a research report on Wednesday. They set an “outperform” rating and a $215.00 target price on the stock. Wedbush lowered their price target on Home Depot from $190.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 27th. Deutsche Bank lifted their price target on Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Bank of America set a $195.00 price target on Home Depot and gave the company a “hold” rating in a report on Monday, December 10th. Finally, Credit Suisse Group lowered their price target on Home Depot from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday, February 27th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $204.06.
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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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