Zions Bancorporation increased its position in Home Depot Inc (NYSE:HD) by 166.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,548 shares of the home improvement retailer’s stock after acquiring an additional 4,712 shares during the period. Zions Bancorporation’s holdings in Home Depot were worth $1,235,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in HD. Wela Strategies Inc. acquired a new stake in shares of Home Depot during the second quarter worth $217,000. Beach Investment Management LLC. raised its position in shares of Home Depot by 1,023.1% during the second quarter. Beach Investment Management LLC. now owns 68,511 shares of the home improvement retailer’s stock worth $10,510,000 after purchasing an additional 62,411 shares during the period. Summit Financial Group Inc. acquired a new stake in shares of Home Depot during the second quarter worth $1,500,000. Cigna Investments Inc. New raised its position in shares of Home Depot by 19.6% during the second quarter. Cigna Investments Inc. New now owns 60,338 shares of the home improvement retailer’s stock worth $9,256,000 after purchasing an additional 9,906 shares during the period. Finally, Morse Asset Management Inc raised its position in shares of Home Depot by 0.3% during the second quarter. Morse Asset Management Inc now owns 88,518 shares of the home improvement retailer’s stock worth $13,579,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 70.36% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Telsey Advisory Group boosted their target price on Home Depot from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $195.00 target price on shares of Home Depot in a research report on Thursday, November 30th. SunTrust Banks boosted their target price on Home Depot from $167.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, December 7th. Credit Suisse Group boosted their target price on Home Depot from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Bank of America boosted their target price on Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $193.38.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Craig A. Menear sold 113,687 shares of the company’s stock in a transaction dated 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 in the company, valued at $43,734,117.03. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
Home Depot Inc (NYSE:HD) opened at $188.35 on Friday. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.17 and a quick ratio of 0.39. Home Depot Inc has a 52-week low of $144.25 and a 52-week high of $207.60. The firm has a market capitalization of $219,945.53, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, topping 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 company had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. During the same period in the prior year, the firm posted $1.44 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. sell-side analysts anticipate that Home Depot Inc will post 9.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be given a $1.03 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a yield of 2.19%. The ex-dividend date is Wednesday, March 7th. Home Depot’s dividend payout ratio is presently 48.90%.
Home Depot announced that its board has initiated a stock repurchase program on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
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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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