New Jersey Better Educational Savings Trust boosted its holdings in Home Depot Inc (NYSE:HD) by 66.7% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,000 shares of the home improvement retailer’s stock after acquiring an additional 2,000 shares during the quarter. New Jersey Better Educational Savings Trust’s holdings in Home Depot were worth $818,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Home Depot by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after acquiring an additional 703,292 shares during the period. Capital Research Global Investors boosted its holdings in Home Depot by 0.9% during the 2nd quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock valued at $3,071,943,000 after acquiring an additional 170,139 shares during the period. Northern Trust Corp boosted its holdings in Home Depot by 1.3% during the 2nd quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after acquiring an additional 222,958 shares during the period. Alliancebernstein L.P. boosted its holdings in Home Depot by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock valued at $1,231,485,000 after acquiring an additional 84,750 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Home Depot by 14.4% during the 2nd quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock valued at $930,903,000 after acquiring an additional 761,586 shares during the period. Institutional investors and hedge funds own 70.14% of the company’s stock.
Several equities research analysts have weighed in on the company. Oppenheimer reiterated a “buy” rating on shares of Home Depot in a report on Tuesday, December 26th. Moffett Nathanson assumed coverage on Home Depot in a report on Monday, December 4th. They issued a “buy” rating for the company. Morgan Stanley set a $185.00 price objective on Home Depot and gave the stock a “buy” rating in a report on Friday, December 8th. Zacks Investment Research cut Home Depot from a “buy” rating to a “hold” rating in a report on Monday, December 11th. Finally, Guggenheim began coverage on Home Depot in a report on Wednesday, December 13th. They issued a “buy” rating and a $200.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $183.28.
In other news, EVP Matt Carey sold 41,396 shares of the firm’s 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 transaction, the executive vice president now directly owns 29,559 shares in the company, valued at approximately $5,410,183.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.
Shares of Home Depot Inc (NYSE HD) opened at $196.42 on Friday. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. Home Depot Inc has a 52 week low of $133.94 and a 52 week high of $199.42. The company has a market capitalization of $229,370.00, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, beating the 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 business had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.53 billion. During the same period last year, the business posted $1.60 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. equities research analysts anticipate that Home Depot Inc will post 7.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.81%. Home Depot’s dividend payout ratio is 49.38%.
Home Depot declared that its board has initiated a share buyback program on Wednesday, December 6th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors 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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