Commonwealth Bank of Australia grew its stake in shares of Home Depot Inc (NYSE:HD) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,255 shares of the home improvement retailer’s stock after acquiring an additional 4,142 shares during the quarter. Commonwealth Bank of Australia’s holdings in Home Depot were worth $17,209,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC increased its position in Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after purchasing an additional 101 shares in the last quarter. Burt Wealth Advisors increased its position in Home Depot by 83.5% during the 3rd quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock worth $142,000 after purchasing an additional 396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Home Depot by 63.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after purchasing an additional 340 shares in the last quarter. Glassman Wealth Services increased its position in Home Depot by 38.3% during the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock worth $166,000 after purchasing an additional 300 shares in the last quarter. Finally, AllSquare Wealth Management LLC acquired a new stake in Home Depot during the 3rd quarter worth approximately $178,000. 70.34% of the stock is owned by institutional investors.
A number of research firms recently issued reports on HD. Zacks Investment Research raised shares of Home Depot from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research report on Tuesday, February 6th. Jefferies Group reissued a “buy” rating and set a $223.00 target price on shares of Home Depot in a research report on Monday, February 5th. Stifel Nicolaus increased their target price on shares of Home Depot from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Credit Suisse Group increased their target price on shares of Home Depot from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $220.00 target price (up previously from $190.00) on shares of Home Depot in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $190.32.
Shares of Home Depot Inc (HD) opened at $183.72 on Wednesday. Home Depot Inc has a 52-week low of $139.34 and a 52-week high of $207.60. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. The firm has a market capitalization of $214,935.88, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.08.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same period last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. equities analysts anticipate that Home Depot Inc will post 7.38 EPS for the current fiscal year.
Home Depot declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.
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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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