Spinnaker Trust raised its stake in Home Depot Inc (NYSE:HD) by 36.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,899 shares of the home improvement retailer’s stock after buying an additional 6,132 shares during the period. Spinnaker Trust’s holdings in Home Depot were worth $3,933,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Paragon Capital Management LLC boosted its position in shares of Home Depot by 32.3% during the 4th quarter. Paragon Capital Management LLC now owns 1,654 shares of the home improvement retailer’s stock valued at $284,000 after purchasing an additional 404 shares in the last quarter. RDL Financial Inc. raised its stake in Home Depot by 5.2% during the 4th quarter. RDL Financial Inc. now owns 13,805 shares of the home improvement retailer’s stock worth $2,372,000 after buying an additional 678 shares during the period. PFG Advisors acquired a new position in Home Depot during the 4th quarter worth approximately $702,000. Prudential Financial Inc. raised its stake in Home Depot by 3.5% during the 3rd quarter. Prudential Financial Inc. now owns 1,348,582 shares of the home improvement retailer’s stock worth $279,359,000 after buying an additional 45,754 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Home Depot during the 4th quarter worth approximately $1,706,000. Hedge funds and other institutional investors own 71.01% of the company’s stock.
A number of research analysts recently weighed in on HD shares. DZ Bank downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Credit Suisse Group set a $194.00 price target on Home Depot and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Zacks Investment Research downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. Telsey Advisory Group downgraded Home Depot from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $205.00 to $192.00 in a research note on Wednesday, February 27th. Finally, Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. Home Depot currently has a consensus rating of “Buy” and a consensus price target of $204.71.
Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, topping the consensus estimate of $2.16 by $0.09. The firm had revenue of $26.49 billion during the quarter, compared to the consensus estimate 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 business posted $1.69 earnings per share. As a group, research analysts anticipate that Home Depot Inc will post 10.09 EPS for the current year.
Home Depot declared that its board has initiated a stock repurchase plan on Tuesday, February 26th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Mark Holifield sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the transaction, the executive vice president now directly owns 39,794 shares of the company’s stock, valued at $7,306,178.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 5,450 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the completion of the transaction, the executive vice president now directly owns 51,030 shares of the company’s stock, valued at $9,423,710.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,194 shares of company stock valued at $7,553,141. Company insiders own 0.27% of the company’s stock.
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Home Depot 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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