Home Depot Inc (HD) Holdings Cut by Barings LLC
Barings LLC cut its position in Home Depot Inc (NYSE:HD) by 37.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,955 shares of the home improvement retailer’s stock after selling 15,640 shares during the period. Barings LLC’s holdings in Home Depot were worth $4,460,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. Portfolio Solutions LLC bought a new stake in shares of Home Depot in the fourth quarter worth approximately $26,000. Virtus ETF Advisers LLC bought a new stake in shares of Home Depot in the fourth quarter worth approximately $32,000. Enlightenment Research LLC bought a new stake in shares of Home Depot in the fourth quarter worth approximately $34,000. Private Ocean LLC grew its stake in shares of Home Depot by 53.3% in the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 72 shares during the period. Finally, Ironwood Financial llc grew its stake in shares of Home Depot by 39.5% in the fourth quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock worth $49,000 after acquiring an additional 81 shares during the period. 69.22% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Carol B. Tome sold 26,334 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $189.17, for a total value of $4,981,602.78. Following the transaction, the chief financial officer now owns 519,253 shares of the company’s stock, valued at $98,227,090.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward P. Decker sold 23,744 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the transaction, the executive vice president now directly owns 86,813 shares in the company, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,028 shares of company stock valued at $14,496,674. Company insiders own 0.27% of the company’s stock.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.10. The business had revenue of $26.38 billion during the quarter, compared to analyst estimates of $26.34 billion. Home Depot had a net margin of 10.24% and a negative return on equity of 6,597.69%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 earnings per share. Equities research analysts anticipate that Home Depot Inc will post 10.1 earnings per share for the current fiscal year.
Home Depot declared that its board has approved a stock repurchase program on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be given a $1.36 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.87%. Home Depot’s payout ratio is currently 55.01%.
Several analysts recently issued reports on HD shares. Citigroup cut their target price on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a research report on Monday, April 1st. Deutsche Bank boosted their target price on shares of Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Edward Jones upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Royal Bank of Canada cut their target price on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, Stifel Nicolaus boosted their target price on shares of Home Depot from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $205.29.
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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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