First Merchants Corp cut its stake in Home Depot Inc (NYSE:HD) by 97.5% in the 4th quarter, Holdings Channel reports. The firm owned 265 shares of the home improvement retailer’s stock after selling 10,463 shares during the quarter. First Merchants Corp’s holdings in Home Depot were worth $2,465,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of HD. Jennison Associates LLC raised its stake in shares of Home Depot by 65.4% in the fourth quarter. Jennison Associates LLC now owns 8,227,834 shares of the home improvement retailer’s stock worth $1,559,421,000 after purchasing an additional 3,254,382 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Home Depot by 2,013.2% in the second quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock worth $509,247,000 after purchasing an additional 3,162,631 shares during the last quarter. Capital International Investors raised its stake in shares of Home Depot by 132.5% in the third quarter. Capital International Investors now owns 3,268,036 shares of the home improvement retailer’s stock worth $534,520,000 after purchasing an additional 1,862,134 shares during the last quarter. APG Asset Management N.V. raised its stake in shares of Home Depot by 66.3% in the fourth quarter. APG Asset Management N.V. now owns 3,727,680 shares of the home improvement retailer’s stock worth $588,364,000 after purchasing an additional 1,485,500 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Home Depot by 8,118.8% in the third quarter. Stifel Financial Corp now owns 1,174,227 shares of the home improvement retailer’s stock worth $191,976,000 after purchasing an additional 1,159,940 shares during the last quarter. 70.69% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Armando M. Codina purchased 6,650 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was purchased at an average cost of $178.66 per share, with a total value of $1,188,089.00. Following the completion of the acquisition, the director now directly owns 42,300 shares of the company’s stock, valued at $7,557,318. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Craig A. Menear sold 113,687 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $183.79, for a total value of $20,894,533.73. Following the completion of the transaction, the chief executive officer now directly owns 237,957 shares of the company’s stock, valued at $43,734,117.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 169,027 shares of company stock valued at $31,220,882. 0.26% of the stock is owned by corporate insiders.
Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The business had revenue of $23.88 billion during the quarter, compared to analyst estimates of $23.65 billion. During the same period in the prior year, the company earned $1.44 earnings per share. Home Depot’s revenue was up 7.5% compared to the same quarter last year. analysts anticipate that Home Depot Inc will post 9.43 earnings per share for the current year.
Home Depot declared that its board has approved a share buyback program on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.31%. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. The ex-dividend date was Wednesday, March 7th. Home Depot’s dividend payout ratio is 55.23%.
HD has been the subject of a number of research analyst reports. Telsey Advisory Group increased their price target on Home Depot from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, December 4th. Moffett Nathanson initiated coverage on Home Depot in a research report on Monday, December 4th. They set a “buy” rating for the company. Citigroup reaffirmed a “buy” rating and set a $213.00 price target on shares of Home Depot in a research report on Thursday, December 7th. BTIG Research increased their price target on Home Depot to $215.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Finally, Sanford C. Bernstein set a $170.00 price target on Home Depot and gave the company a “hold” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $194.04.
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Home Depot Company Profile
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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