Hennessy Advisors Inc. purchased a new stake in Home Depot Inc (NYSE:HD) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,010 shares of the home improvement retailer’s stock, valued at approximately $1,329,000.
Several other institutional investors and hedge funds also recently made changes to their positions in HD. Atlantic Trust LLC increased its holdings in Home Depot by 12.8% during the 2nd quarter. Atlantic Trust LLC now owns 20,332 shares of the home improvement retailer’s stock valued at $3,119,000 after acquiring an additional 2,309 shares in the last quarter. APG Asset Management N.V. increased its holdings in Home Depot by 6.3% during the 3rd quarter. APG Asset Management N.V. now owns 2,242,180 shares of the home improvement retailer’s stock valued at $366,731,000 after acquiring an additional 133,300 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Home Depot by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,133,380 shares of the home improvement retailer’s stock valued at $512,473,000 after acquiring an additional 8,344 shares in the last quarter. HM Payson & Co. increased its holdings in Home Depot by 88.2% during the 3rd quarter. HM Payson & Co. now owns 143,617 shares of the home improvement retailer’s stock valued at $23,490,000 after acquiring an additional 67,309 shares in the last quarter. Finally, Andra AP fonden increased its holdings in Home Depot by 1.4% during the 2nd quarter. Andra AP fonden now owns 106,299 shares of the home improvement retailer’s stock valued at $16,306,000 after acquiring an additional 1,499 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.
Shares of HD stock opened at $178.16 on Wednesday. The company has a debt-to-equity ratio of 16.69, a current ratio of 1.17 and a quick ratio of 0.38. Home Depot Inc has a 12-month low of $144.25 and a 12-month high of $207.60. The stock has a market cap of $206,808.36, a P/E ratio of 24.47, a P/E/G ratio of 1.42 and a beta of 1.14.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.07. Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The business had revenue of $23.88 billion for the quarter, compared to analysts’ expectations of $23.65 billion. During the same period last year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. analysts anticipate that Home Depot Inc will post 9.43 EPS for the current fiscal year.
Home Depot announced that its board has initiated a stock buyback program on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be given a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This is a boost from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is currently 56.59%.
In related news, EVP Ann Marie Campbell sold 37,680 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $186.26, for a total value of $7,018,276.80. Following the sale, the executive vice president now directly owns 53,459 shares of the company’s stock, valued at $9,957,273.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Armando M. Codina bought 6,650 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was bought at an average cost of $178.66 per share, for a total transaction of $1,188,089.00. Following the completion of the transaction, the director now directly owns 42,300 shares of the company’s stock, valued at approximately $7,557,318. The disclosure for this purchase can be found here. Insiders sold 169,027 shares of company stock worth $31,220,882 over the last three months. Corporate insiders own 0.26% of the company’s stock.
Several equities analysts have weighed in on HD shares. BMO Capital Markets raised their target price on shares of Home Depot from $191.00 to $213.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. BTIG Research raised their target price on shares of Home Depot to $215.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Jefferies Group restated a “buy” rating and set a $223.00 target price on shares of Home Depot in a report on Monday, February 5th. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a report on Tuesday, February 6th. Finally, Credit Suisse Group restated an “outperform” rating and set a $183.00 target price (up from $175.00) on shares of Home Depot in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $193.15.
COPYRIGHT VIOLATION WARNING: “Hennessy Advisors Inc. Purchases New Holdings in Home Depot Inc (HD)” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://www.dispatchtribunal.com/2018/03/21/hennessy-advisors-inc-purchases-new-holdings-in-home-depot-inc-hd.html.
Home Depot 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.
Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.