Home Depot Inc (HD) Shares Bought by Flagship Harbor Advisors LLC
Flagship Harbor Advisors LLC raised its position in Home Depot Inc (NYSE:HD) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,885 shares of the home improvement retailer’s stock after purchasing an additional 487 shares during the quarter. Home Depot accounts for approximately 0.8% of Flagship Harbor Advisors LLC’s portfolio, making the stock its 26th largest position. Flagship Harbor Advisors LLC’s holdings in Home Depot were worth $2,853,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Denali Advisors LLC acquired a new position in shares of Home Depot in the fourth quarter worth $133,000. Jacobi Capital Management LLC grew its stake in shares of Home Depot by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after acquiring an additional 101 shares in the last quarter. Burt Wealth Advisors grew its stake in shares of Home Depot by 83.5% in the third quarter. Burt Wealth Advisors now owns 870 shares of the home improvement retailer’s stock worth $142,000 after acquiring an additional 396 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Home Depot by 63.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after acquiring an additional 340 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new position in shares of Home Depot in the fourth quarter worth $179,000. 70.59% of the stock is currently owned by institutional investors.
In other Home Depot news, EVP Ann Marie Campbell sold 37,680 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $186.26, for a total value of $7,018,276.80. Following the completion of the transaction, the executive vice president now owns 53,459 shares in the company, valued at $9,957,273.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig A. Menear sold 113,687 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total transaction of $20,894,533.73. Following the completion of the transaction, the chief executive officer now owns 237,957 shares of the company’s stock, valued at approximately $43,734,117.03. The disclosure for this sale can be found here. Insiders sold 169,027 shares of company stock valued at $31,220,882 in the last 90 days. 0.26% of the stock is currently owned by insiders.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.07. Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The company had revenue of $23.88 billion during the quarter, compared to the consensus estimate of $23.65 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Home Depot’s revenue for the quarter was up 7.5% on a year-over-year basis. equities research analysts forecast that Home Depot Inc will post 9.43 EPS for the current fiscal year.
Home Depot announced that its Board of Directors has approved a share repurchase plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, March 7th. This is an increase from Home Depot’s previous quarterly dividend of $0.89. Home Depot’s dividend payout ratio is currently 56.59%.
Several equities analysts have commented on the stock. Loop Capital assumed coverage on shares of Home Depot in a research note on Thursday, March 1st. They issued a “hold” rating and a $187.00 price target for the company. Morgan Stanley set a $210.00 price target on shares of Home Depot and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird restated an “outperform” rating and issued a $195.00 price target on shares of Home Depot in a research note on Thursday, November 30th. BMO Capital Markets boosted their price target on shares of Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, Telsey Advisory Group boosted their price target on shares of Home Depot from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Home Depot presently has a consensus rating of “Buy” and a consensus target price of $194.04.
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About Home Depot
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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