Handelsinvest Investeringsforvaltning reduced its holdings in Home Depot Inc (NYSE:HD) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,577 shares of the home improvement retailer’s stock after selling 1,532 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Home Depot were worth $786,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of HD. Ironwood Financial llc grew its holdings in Home Depot by 39.5% during the fourth quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock worth $49,000 after buying an additional 81 shares in the last quarter. Fusion Family Wealth LLC grew its holdings in Home Depot by 43.6% during the fourth quarter. Fusion Family Wealth LLC now owns 405 shares of the home improvement retailer’s stock worth $70,000 after buying an additional 123 shares in the last quarter. Highwater Wealth Management LLC bought a new stake in Home Depot during the fourth quarter worth $124,000. Capital Advisors Ltd. LLC grew its holdings in Home Depot by 162.0% during the third quarter. Capital Advisors Ltd. LLC now owns 613 shares of the home improvement retailer’s stock worth $127,000 after buying an additional 379 shares in the last quarter. Finally, Canton Hathaway LLC bought a new stake in Home Depot during the third quarter worth $166,000. Institutional investors and hedge funds own 70.88% of the company’s stock.
HD has been the topic of several research analyst reports. Citigroup cut their price objective on Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Bank of America reissued a “neutral” rating and issued a $202.00 price objective on shares of Home Depot in a research report on Thursday, April 11th. Evercore ISI initiated coverage on Home Depot in a research report on Wednesday, March 20th. They issued an “outperform” rating and a $215.00 price objective on the stock. Wedbush cut their price objective on Home Depot from $190.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 27th. Finally, Morgan Stanley boosted their price objective on Home Depot from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and an average price target of $204.47.
NYSE HD traded down $0.89 during trading on Friday, reaching $205.66. The company’s stock had a trading volume of 3,162,460 shares, compared to its average volume of 3,678,278. The firm has a market capitalization of $227.03 billion, a P/E ratio of 20.79, a P/E/G ratio of 1.78 and a beta of 1.09. The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68. Home Depot Inc has a one year low of $158.09 and a one year high of $215.43.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.09. The business had revenue of $26.49 billion for the quarter, compared to analyst estimates of $26.57 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. As a group, research analysts anticipate that Home Depot Inc will post 10.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $1.36 per share. The ex-dividend date was Wednesday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $1.03. This represents a $5.44 annualized dividend and a dividend yield of 2.65%. Home Depot’s dividend payout ratio is 55.01%.
Home Depot announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 26th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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