Interval Partners LP purchased a new position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,190 shares of the home improvement retailer’s stock, valued at approximately $955,000.
Several other hedge funds have also recently added to or reduced their stakes in HD. Norges Bank purchased a new position in shares of Home Depot in the fourth quarter worth about $4,325,629,000. Renaissance Technologies LLC purchased a new position in shares of Home Depot in the first quarter worth about $563,524,000. Parnassus Investments LLC purchased a new position in shares of Home Depot in the first quarter worth about $542,084,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after buying an additional 1,361,660 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Home Depot by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock valued at $7,002,662,000 after purchasing an additional 701,811 shares during the period. Institutional investors own 68.66% of the company’s stock.
Home Depot Trading Down 0.0 %
Shares of HD stock opened at $299.77 on Friday. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $420.61. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18. The firm has a market capitalization of $306.88 billion, a PE ratio of 18.42, a PEG ratio of 1.61 and a beta of 0.99. The stock has a fifty day simple moving average of $300.92 and a two-hundred day simple moving average of $302.14.
Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The business had revenue of $43.79 billion during the quarter, compared to analyst estimates of $43.33 billion. During the same quarter in the prior year, the business posted $4.53 EPS. Home Depot’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts predict that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.
Home Depot declared that its board has approved a stock repurchase plan on Thursday, August 18th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to reacquire up to 4.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.
Home Depot Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, August 31st. Home Depot’s dividend payout ratio (DPR) is presently 46.71%.
Insider Buying and Selling at Home Depot
In other Home Depot news, EVP Matt Carey sold 12,650 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on HD. DA Davidson upped their target price on Home Depot to $334.00 in a report on Monday, August 22nd. JPMorgan Chase & Co. dropped their price target on Home Depot from $335.00 to $311.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 9th. Morgan Stanley upped their price objective on Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. MKM Partners initiated coverage on Home Depot in a research report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $365.95.
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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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