Cohen & Steers Inc. Cuts Stake in Home Depot Inc (NYSE:HD)

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Cohen & Steers Inc. decreased its stake in shares of Home Depot Inc (NYSE:HD) by 10.9% during the fourth quarter, HoldingsChannel reports. The firm owned 798 shares of the home improvement retailer’s stock after selling 98 shares during the quarter. Cohen & Steers Inc.’s holdings in Home Depot were worth $137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Portfolio Solutions LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $26,000. Virtus ETF Advisers LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $32,000. Enlightenment Research LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $34,000. Private Ocean LLC lifted its stake in shares of Home Depot by 53.3% in the fourth 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. Finally, Ironwood Financial llc lifted its stake in shares of Home Depot by 39.5% in the fourth 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. 69.43% of the stock is currently owned by hedge funds and other institutional investors.

In other Home Depot news, EVP Teresa Wynn Roseborough sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $194.38, for a total transaction of $1,652,230.00. Following the completion of the sale, the executive vice president now directly owns 13,357 shares of the company’s stock, valued at $2,596,333.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $193.30, for a total transaction of $2,512,900.00. Following the sale, the executive vice president now directly owns 64,575 shares of the company’s stock, valued at $12,482,347.50. The disclosure for this sale can be found here. Insiders have sold 47,834 shares of company stock valued at $9,146,733 over the last three months. 0.27% of the stock is owned by corporate insiders.

HD has been the topic of several analyst reports. Citigroup dropped their target price on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a research note on Monday, April 1st. Robert W. Baird reiterated a “positive” rating on shares of Home Depot in a research note on Thursday, April 25th. DZ Bank downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Finally, Wells Fargo & Co upped their target price on shares of Home Depot from $205.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Home Depot presently has a consensus rating of “Buy” and a consensus price target of $205.29.

HD opened at $198.94 on Thursday. The company has a debt-to-equity ratio of 17.68, a current ratio of 1.04 and a quick ratio of 0.26. Home Depot Inc has a twelve month low of $158.09 and a twelve month high of $215.43. The company has a market cap of $217.09 billion, a PE ratio of 20.12, a P/E/G ratio of 1.82 and a beta of 1.10.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.10. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The firm had revenue of $26.38 billion during the quarter, compared to analysts’ expectations of $26.34 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts predict that Home Depot Inc will post 10.1 EPS for the current fiscal year.

Home Depot announced that its Board of Directors has approved a share buyback plan on Tuesday, February 26th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $1.36 per share. The ex-dividend date is Wednesday, June 5th. This represents a $5.44 annualized dividend and a dividend yield of 2.73%. Home Depot’s payout ratio is 55.01%.

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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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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