FormulaFolio Investments LLC Acquires 515 Shares of Home Depot, Inc. (The) (HD)
FormulaFolio Investments LLC boosted its holdings in shares of Home Depot, Inc. (The) (NYSE:HD) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,992 shares of the home improvement retailer’s stock after acquiring an additional 515 shares during the period. FormulaFolio Investments LLC’s holdings in Home Depot were worth $816,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of HD. IFP Advisors Inc increased its stake in Home Depot by 3.0% during the 2nd quarter. IFP Advisors Inc now owns 73,631 shares of the home improvement retailer’s stock valued at $11,295,000 after purchasing an additional 2,133 shares in the last quarter. Smithfield Trust Co. increased its stake in Home Depot by 0.3% during the 2nd quarter. Smithfield Trust Co. now owns 8,387 shares of the home improvement retailer’s stock valued at $1,287,000 after purchasing an additional 25 shares in the last quarter. Quantitative Systematic Strategies LLC increased its stake in Home Depot by 12.2% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 19,718 shares of the home improvement retailer’s stock valued at $3,001,000 after purchasing an additional 2,139 shares in the last quarter. BP PLC increased its stake in Home Depot by 16.2% during the 2nd quarter. BP PLC now owns 179,000 shares of the home improvement retailer’s stock valued at $27,459,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Karp Capital Management Corp bought a new stake in Home Depot during the 1st quarter valued at about $99,739,000. 70.16% of the stock is owned by institutional investors.
Shares of Home Depot, Inc. (NYSE HD) opened at $184.73 on Tuesday. Home Depot, Inc. has a 12 month low of $133.05 and a 12 month high of $186.31. The company has a market cap of $213,195.95, a P/E ratio of 25.36, a PEG ratio of 1.85 and a beta of 1.11. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were given a dividend of $0.89 per share. The ex-dividend date was Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.93%. Home Depot’s dividend payout ratio (DPR) is 49.44%.
Home Depot announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
A number of analysts have weighed in on HD shares. Zacks Investment Research lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Robert W. Baird set a $175.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Sunday, September 10th. Royal Bank of Canada set a $179.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Monday, October 30th. Credit Suisse Group set a $171.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Bank of America raised their price objective on shares of Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $183.28.
In related news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction that occurred on 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 directly owns 29,559 shares in the company, valued at $5,410,183.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.
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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