State of Tennessee Treasury Department decreased its stake in Home Depot, Inc. (The) (NYSE:HD) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,261,855 shares of the home improvement retailer’s stock after selling 19,035 shares during the period. Home Depot makes up 0.9% of State of Tennessee Treasury Department’s portfolio, making the stock its 12th biggest position. State of Tennessee Treasury Department owned 0.11% of Home Depot worth $193,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. American Beacon Advisors Inc. acquired a new position in shares of Home Depot in the first quarter worth about $100,000. St. Johns Investment Management Company LLC lifted its stake in shares of Home Depot by 81.8% in the second quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock worth $169,000 after acquiring an additional 495 shares in the last quarter. Mascoma Wealth Management LLC lifted its stake in shares of Home Depot by 0.6% in the second quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock worth $175,000 after acquiring an additional 7 shares in the last quarter. Ruggie Capital Group lifted its stake in shares of Home Depot by 12.2% in the second quarter. Ruggie Capital Group now owns 1,299 shares of the home improvement retailer’s stock worth $199,000 after acquiring an additional 141 shares in the last quarter. Finally, Tuttle Tactical Management LLC acquired a new position in shares of Home Depot in the second quarter worth about $200,000. 70.37% of the stock is owned by institutional investors.
In other news, EVP Matt Carey sold 32,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $157.10, for a total transaction of $5,027,200.00. Following the sale, the executive vice president now directly owns 62,483 shares in the company, valued at approximately $9,816,079.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.
Several brokerages have issued reports on HD. Argus upped their price objective on Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Oppenheimer set a $178.00 price objective on Home Depot and gave the company a “buy” rating in a research note on Tuesday, November 14th. Jefferies Group restated a “buy” rating and set a $182.00 price objective on shares of Home Depot in a research note on Thursday, August 10th. Finally, SunTrust Banks upped their price objective on Home Depot to $167.00 and gave the company a “hold” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $177.22.
Shares of Home Depot, Inc. (NYSE:HD) traded down $3.19 during trading on Wednesday, hitting $179.66. The stock had a trading volume of 2,550,142 shares, compared to its average volume of 4,448,647. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. The firm has a market cap of $215,916.78, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. Home Depot, Inc. has a fifty-two week low of $128.68 and a fifty-two week high of $186.31.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The business had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. research analysts forecast that Home Depot, Inc. will post 7.38 EPS for the current year.
Home Depot announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s payout ratio is 49.44%.
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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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