SPC Financial Inc. lifted its stake in shares of Home Depot Inc (NYSE:HD) by 440.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,756 shares of the home improvement retailer’s stock after acquiring an additional 7,952 shares during the period. SPC Financial Inc.’s holdings in Home Depot were worth $1,676,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Adviser Investments LLC boosted its stake in Home Depot by 254.7% in the 4th quarter. Adviser Investments LLC now owns 31,703 shares of the home improvement retailer’s stock worth $5,447,000 after buying an additional 22,765 shares during the last quarter. Concorde Asset Management LLC boosted its stake in Home Depot by 7.3% in the 4th quarter. Concorde Asset Management LLC now owns 1,612 shares of the home improvement retailer’s stock worth $277,000 after buying an additional 109 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Home Depot by 4.2% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 120,825 shares of the home improvement retailer’s stock worth $20,760,000 after buying an additional 4,866 shares during the last quarter. Legacy Bridge LLC acquired a new stake in Home Depot in the 4th quarter worth about $701,000. Finally, Asset Planning Services Inc. LA ADV boosted its stake in Home Depot by 8.5% in the 4th quarter. Asset Planning Services Inc. LA ADV now owns 18,520 shares of the home improvement retailer’s stock worth $3,182,000 after buying an additional 1,455 shares during the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:HD opened at $203.85 on Monday. The stock has a market cap of $225.03 billion, a P/E ratio of 20.61, a P/E/G ratio of 1.75 and a beta of 1.09. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. Home Depot Inc has a one year low of $158.09 and a one year high of $215.43.
Home Depot announced that its board has initiated a stock repurchase program on Tuesday, February 26th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $1.36 per share. This is an increase from Home Depot’s previous quarterly dividend of $1.03. This represents a $5.44 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Wednesday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.
In other Home Depot news, EVP Mark Holifield sold 12,000 shares of Home Depot stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the sale, the executive vice president now directly owns 39,794 shares in the company, valued at approximately $7,306,178.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 5,450 shares of Home Depot stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total value of $1,006,451.50. Following the sale, the executive vice president now owns 51,030 shares in the company, valued at $9,423,710.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,194 shares of company stock worth $7,553,141. Company insiders own 0.25% of the company’s stock.
HD has been the topic of a number of research analyst reports. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Monday, December 31st. Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Credit Suisse Group set a $194.00 price objective on Home Depot and gave the company a “hold” rating in a research note on Tuesday, February 26th. Telsey Advisory Group lowered Home Depot from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $205.00 to $192.00 in a research note on Wednesday, February 27th. Finally, Deutsche Bank lifted their price objective on Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $203.88.
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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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