Allen Investment Management LLC raised its position in shares of Home Depot Inc (NYSE:HD) by 2.8% during the 4th quarter, HoldingsChannel reports. The fund owned 20,842 shares of the home improvement retailer’s stock after purchasing an additional 577 shares during the period. Allen Investment Management LLC’s holdings in Home Depot were worth $3,581,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Virtus ETF Advisers LLC bought a new position in shares of Home Depot during the 4th quarter worth $32,000. Private Ocean LLC grew its position in shares of Home Depot by 53.3% during the 4th quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 72 shares in the last quarter. Ironwood Financial llc grew its position in shares of Home Depot by 39.5% during the 4th quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock worth $49,000 after buying an additional 81 shares in the last quarter. Avondale Wealth Management grew its position in shares of Home Depot by 52.4% during the 4th quarter. Avondale Wealth Management now owns 349 shares of the home improvement retailer’s stock worth $60,000 after buying an additional 120 shares in the last quarter. Finally, Evolution Wealth Advisors LLC bought a new position in shares of Home Depot during the 4th quarter worth $61,000. 70.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE HD opened at $188.91 on Thursday. The company has a debt-to-equity ratio of 17.68, a current ratio of 1.11 and a quick ratio of 0.28. The firm has a market cap of $212.59 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.67 and a beta of 1.09. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $215.43.
Home Depot announced that its board has approved a share repurchase plan on Tuesday, February 26th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value of $4,343,489.92. Following the completion of the sale, the executive vice president now directly owns 86,813 shares in the company, valued at $15,880,702.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 5,450 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 51,030 shares of the company’s stock, valued at $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 over the last 90 days. 0.27% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on HD. Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Stifel Nicolaus increased their price target on Home Depot from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America reissued a “neutral” rating and set a $202.00 price target on shares of Home Depot in a research report on Thursday, April 11th. Morgan Stanley increased their price target on Home Depot from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Evercore ISI began coverage on Home Depot in a research report on Wednesday, March 20th. They set an “outperform” rating and a $215.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $205.29.
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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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