Point72 Asset Management L.P. increased its holdings in shares of HD Supply Holdings Inc (NASDAQ:HDS) by 894.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 619,603 shares of the industrial products company’s stock after buying an additional 557,303 shares during the quarter. Point72 Asset Management L.P. owned 0.33% of HD Supply worth $22,349,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. OZ Management LP purchased a new position in HD Supply in the second quarter valued at about $117,147,000. State of New Jersey Common Pension Fund D grew its stake in HD Supply by 4.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,875,000 shares of the industrial products company’s stock valued at $67,632,000 after purchasing an additional 75,000 shares in the last quarter. Pacad Investment Ltd. grew its stake in HD Supply by 33.6% in the second quarter. Pacad Investment Ltd. now owns 44,100 shares of the industrial products company’s stock valued at $1,351,000 after purchasing an additional 11,089 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in HD Supply in the second quarter valued at about $3,388,000. Finally, State of Wisconsin Investment Board grew its stake in HD Supply by 324.8% in the second quarter. State of Wisconsin Investment Board now owns 170,755 shares of the industrial products company’s stock valued at $5,230,000 after purchasing an additional 130,560 shares in the last quarter.
Shares of HD Supply Holdings Inc (HDS) opened at $38.60 on Thursday. The stock has a market capitalization of $7,235.88, a PE ratio of 15.53, a PEG ratio of 0.83 and a beta of 1.40. HD Supply Holdings Inc has a 52 week low of $28.97 and a 52 week high of $44.73. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.80 and a current ratio of 2.80.
HD Supply (NASDAQ:HDS) last posted its quarterly earnings data on Tuesday, December 5th. The industrial products company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.05. HD Supply had a return on equity of 41.89% and a net margin of 16.55%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. research analysts expect that HD Supply Holdings Inc will post 2.35 earnings per share for the current year.
HD Supply declared that its board has authorized a stock repurchase program on Tuesday, August 29th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Several analysts have recently issued reports on HDS shares. Zacks Investment Research upgraded HD Supply from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, September 4th. BidaskClub upgraded HD Supply from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. ValuEngine upgraded HD Supply from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $37.00 price target (up previously from $36.00) on shares of HD Supply in a research note on Friday, September 1st. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $38.85.
About HD Supply
HD Supply Holdings, Inc is an industrial distributor in North America. The Company’s segments include Facilities Maintenance, Construction & Industrial-White Cap, and Corporate. As of January 29, 2017, the Company operated through approximately 500 locations across 48 states in the United States and six Canadian provinces.
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