Caxton Associates LP Acquires Shares of 64,300 Home Depot, Inc. (The) (HD)
Caxton Associates LP acquired a new position in shares of Home Depot, Inc. (The) (NYSE:HD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,300 shares of the home improvement retailer’s stock, valued at approximately $9,864,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of HD. Janus Henderson Group PLC grew its holdings in Home Depot by 2,013.2% in the second quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock worth $509,247,000 after purchasing an additional 3,162,631 shares during the period. Harbour Capital Advisors LLC grew its holdings in Home Depot by 15,121.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,865,037 shares of the home improvement retailer’s stock worth $12,158,000 after purchasing an additional 1,852,784 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Home Depot in the second quarter worth $133,780,000. Parametric Portfolio Associates LLC grew its holdings in Home Depot by 35.2% in the second quarter. Parametric Portfolio Associates LLC now owns 3,265,338 shares of the home improvement retailer’s stock worth $500,903,000 after purchasing an additional 850,074 shares during the period. Finally, Jennison Associates LLC grew its holdings in Home Depot by 14.4% in the second quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock worth $930,903,000 after purchasing an additional 761,586 shares during the period. Institutional investors own 70.37% of the company’s stock.
In related news, EVP Matt Carey sold 41,396 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same period last year, the firm earned $1.60 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. analysts predict that Home Depot, Inc. will post 7.37 earnings per share for the current year.
Home Depot announced that its board has initiated a share repurchase program on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be issued a dividend of $0.89 per share. The ex-dividend date is Wednesday, November 29th. This represents a $3.56 dividend on an annualized basis and a yield of 1.95%. Home Depot’s dividend payout ratio (DPR) is presently 49.44%.
HD has been the subject of a number of research reports. Longbow Research restated a “buy” rating and issued a $175.00 price target on shares of Home Depot in a report on Monday, August 14th. Oppenheimer set a $178.00 price target on shares of Home Depot and gave the stock a “buy” rating in a report on Tuesday, August 15th. Robert W. Baird set a $175.00 price target on shares of Home Depot and gave the stock a “buy” rating in a report on Tuesday, August 15th. Credit Suisse Group set a $171.00 price target on shares of Home Depot and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, BTIG Research restated a “buy” rating and issued a $175.00 price target on shares of Home Depot in a report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Home Depot has a consensus rating of “Buy” and a consensus target price of $182.06.
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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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