Roanoke Asset Management Corp NY trimmed its holdings in Home Depot Inc (NYSE:HD) by 6.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 55,341 shares of the home improvement retailer’s stock after selling 3,950 shares during the quarter. Home Depot accounts for about 4.3% of Roanoke Asset Management Corp NY’s holdings, making the stock its 2nd biggest holding. Roanoke Asset Management Corp NY’s holdings in Home Depot were worth $9,052,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC increased 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 buying an additional 3,162,631 shares during the period. Harbour Capital Advisors LLC increased its position in Home Depot by 15,121.1% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,865,037 shares of the home improvement retailer’s stock valued at $12,158,000 after purchasing an additional 1,852,784 shares during the period. Westfield Capital Management Co. LP purchased a new position in Home Depot during the 2nd quarter valued at $133,780,000. Parametric Portfolio Associates LLC increased its position in Home Depot by 35.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,265,338 shares of the home improvement retailer’s stock valued at $500,903,000 after purchasing an additional 850,074 shares during the period. Finally, Jennison Associates LLC increased its position in Home Depot by 14.4% during the 2nd quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock valued at $930,903,000 after purchasing an additional 761,586 shares during the period. Hedge funds and other institutional investors own 70.14% of the company’s stock.
A number of brokerages have issued reports on HD. Deutsche Bank boosted their price objective on shares of Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Argus boosted their price objective on shares of Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Robert W. Baird set a $175.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Atlantic Securities raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $174.16 to $174.95 in a research report on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $183.28.
In related news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the transaction, the executive vice president now owns 29,559 shares in the company, valued at approximately $5,410,183.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.
Shares of Home Depot Inc (HD) opened at $196.42 on Friday. The firm has a market cap of $229,370.00, a PE ratio of 27.24, a PEG ratio of 1.81 and a beta of 1.11. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. Home Depot Inc has a 1 year low of $133.94 and a 1 year high of $199.42.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.03. The company had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. Home Depot’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 EPS. research analysts anticipate that Home Depot Inc will post 7.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Wednesday, November 29th. Home Depot’s payout ratio is 49.38%.
Home Depot declared that its Board of Directors has initiated a share buyback program on Wednesday, December 6th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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About Home Depot
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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