Northeast Investment Management decreased its position in Home Depot Inc (NYSE:HD) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,321 shares of the home improvement retailer’s stock after selling 389 shares during the quarter. Northeast Investment Management’s holdings in Home Depot were worth $2,804,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Townsquare Capital LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $1,835,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Home Depot by 10.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 359,072 shares of the home improvement retailer’s stock valued at $61,696,000 after acquiring an additional 34,276 shares in the last quarter. Duality Advisers LP acquired a new stake in Home Depot in the fourth quarter valued at approximately $3,459,000. Commonwealth Bank of Australia raised its holdings in Home Depot by 13.4% in the fourth quarter. Commonwealth Bank of Australia now owns 110,661 shares of the home improvement retailer’s stock valued at $19,008,000 after acquiring an additional 13,090 shares in the last quarter. Finally, Archford Capital Strategies LLC raised its holdings in Home Depot by 1.8% in the fourth quarter. Archford Capital Strategies LLC now owns 10,377 shares of the home improvement retailer’s stock valued at $1,783,000 after acquiring an additional 183 shares in the last quarter. 69.43% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Carol B. Tome sold 26,334 shares of Home Depot stock in a transaction on Friday, May 31st. The shares were sold at an average price of $189.17, for a total value of $4,981,602.78. Following the transaction, the chief financial officer now directly owns 519,253 shares in the company, valued at approximately $98,227,090.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 13,000 shares of Home Depot stock in a transaction 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 completion of the transaction, the executive vice president now owns 64,575 shares in the company, valued at $12,482,347.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,834 shares of company stock worth $9,146,733. Insiders own 0.27% of the company’s stock.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.10. The business had revenue of $26.38 billion for the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. Analysts anticipate that Home Depot Inc will post 10.1 earnings per share for the current year.
Home Depot declared that its board has authorized a share repurchase plan on Tuesday, February 26th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a dividend of $1.36 per share. The ex-dividend date is Wednesday, June 5th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.75%. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.
Several equities analysts have commented on the stock. Citigroup dropped their price target 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. Zacks Investment Research lowered shares of Home Depot from a “hold” rating to a “sell” rating in a research note on Tuesday, May 7th. Stifel Nicolaus increased their price target on shares of Home Depot from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Robert W. Baird reiterated a “positive” rating on shares of Home Depot in a research note on Thursday, April 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $192.00 price target on shares of Home Depot in a research note on Wednesday, May 1st. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Home Depot presently has an average rating of “Buy” and an average target price of $205.29.
About Home Depot
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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