Cypress Capital Management LLC lifted its holdings in shares of Home Depot Inc (NYSE:HD) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 62,212 shares of the home improvement retailer’s stock after acquiring an additional 902 shares during the period. Home Depot accounts for approximately 2.2% of Cypress Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Cypress Capital Management LLC’s holdings in Home Depot were worth $10,689,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Portfolio Solutions LLC acquired a new position in Home Depot during the fourth quarter worth approximately $26,000. Virtus ETF Advisers LLC acquired a new position in Home Depot during the fourth quarter worth approximately $32,000. Private Ocean LLC increased its position in Home Depot by 53.3% during the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 72 shares during the period. Ironwood Financial llc increased its position 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 during the period. Finally, Avondale Wealth Management increased its position in Home Depot by 52.4% during the fourth quarter. Avondale Wealth Management now owns 349 shares of the home improvement retailer’s stock worth $60,000 after buying an additional 120 shares during the period. 70.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of HD stock opened at $188.91 on Thursday. Home Depot Inc has a twelve month low of $158.09 and a twelve month high of $215.43. The company has a market capitalization of $212.59 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 1.67 and a beta of 1.09. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68.
Home Depot announced that its board has authorized a share buyback plan on Tuesday, February 26th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP Ann Marie Campbell sold 5,450 shares of Home Depot stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total value of $1,006,451.50. Following the sale, the executive vice president now directly owns 51,030 shares in the company, valued at $9,423,710.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total value of $4,343,489.92. Following the completion of the sale, the executive vice president now owns 86,813 shares in the company, valued at $15,880,702.09. The disclosure for this sale can be found here. Insiders sold a total of 41,194 shares of company stock worth $7,553,141 over the last quarter. Company insiders own 0.27% of the company’s stock.
Several research firms have commented on HD. Telsey Advisory Group lowered Home Depot from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $205.00 to $192.00 in a research report on Wednesday, February 27th. Zacks Investment Research lowered Home Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Bank of America reaffirmed a “neutral” rating and set a $202.00 price target on shares of Home Depot in a research report on Thursday, April 11th. Credit Suisse Group set a $194.00 price target on Home Depot and gave the stock a “hold” rating in a research report on Tuesday, February 26th. Finally, Wells Fargo & Co lifted their price target on Home Depot from $205.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $205.29.
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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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