RBF Capital LLC Acquires New Shares in The Home Depot, Inc. (NYSE:HD)


RBF Capital LLC acquired a new stake in The Home Depot, Inc. (NYSE:HDGet Rating) in the first quarter, according to its most recent filing with the SEC. The fund acquired 1,000 shares of the home improvement retailer’s stock, valued at approximately $308,000.

A number of other hedge funds have also bought and sold shares of HD. Sky Investment Group LLC grew its position in shares of Home Depot by 3.4% during the 1st quarter. Sky Investment Group LLC now owns 21,198 shares of the home improvement retailer’s stock valued at $6,345,000 after purchasing an additional 703 shares in the last quarter. Barrett Asset Management LLC grew its position in Home Depot by 5.6% in the first quarter. Barrett Asset Management LLC now owns 66,478 shares of the home improvement retailer’s stock worth $19,898,000 after acquiring an additional 3,507 shares in the last quarter. Everhart Financial Group Inc. grew its position in Home Depot by 28.5% in the first quarter. Everhart Financial Group Inc. now owns 2,062 shares of the home improvement retailer’s stock worth $617,000 after acquiring an additional 457 shares in the last quarter. Diversified LLC grew its position in Home Depot by 1.5% in the first quarter. Diversified LLC now owns 3,257 shares of the home improvement retailer’s stock worth $975,000 after acquiring an additional 47 shares in the last quarter. Finally, Matisse Capital grew its position in Home Depot by 3.9% in the first quarter. Matisse Capital now owns 2,664 shares of the home improvement retailer’s stock worth $797,000 after acquiring an additional 100 shares in the last quarter. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on HD. JPMorgan Chase & Co. cut their target price on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research report on Tuesday, August 9th. Raymond James upped their target price on shares of Home Depot from $340.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Morgan Stanley upped their target price on shares of Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Guggenheim upped their target price on shares of Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Finally, DA Davidson upped their target price on shares of Home Depot to $334.00 in a research report on Monday, August 22nd. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $365.95.

Home Depot Stock Performance

Shares of NYSE:HD opened at $299.77 on Monday. The company has a market cap of $306.88 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99. The company has a 50-day moving average price of $300.92 and a 200-day moving average price of $302.04. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, beating the consensus estimate of $4.95 by $0.10. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The firm had revenue of $43.79 billion during the quarter, compared to the consensus estimate of $43.33 billion. During the same period in the prior year, the firm posted $4.53 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 16.56 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, August 31st. Home Depot’s payout ratio is currently 46.71%.

Home Depot announced that its Board of Directors has authorized a share buyback program on Thursday, August 18th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related 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 value of $4,000,689.00. Following the completion of the transaction, the executive vice president now directly owns 34,522 shares of the company’s stock, valued at $10,917,927.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is owned by insiders.

About Home Depot

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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.

Further Reading

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



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