Home Depot Inc (NYSE:HD) Holdings Boosted by Cerebellum GP LLC
Cerebellum GP LLC boosted its holdings in shares of Home Depot Inc (NYSE:HD) by 18.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,799 shares of the home improvement retailer’s stock after buying an additional 278 shares during the quarter. Home Depot makes up approximately 0.3% of Cerebellum GP LLC’s investment portfolio, making the stock its 24th largest position. Cerebellum GP LLC’s holdings in Home Depot were worth $345,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in HD. Oregon Public Employees Retirement Fund boosted its holdings in shares of Home Depot by 8,331.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 21,467,191 shares of the home improvement retailer’s stock worth $125,000 after acquiring an additional 21,212,570 shares during the period. Capital International Investors boosted its holdings in shares of Home Depot by 129.2% during the third quarter. Capital International Investors now owns 7,080,765 shares of the home improvement retailer’s stock worth $1,466,780,000 after acquiring an additional 3,991,462 shares during the period. Packer & Co Ltd boosted its holdings in shares of Home Depot by 441.9% during the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the home improvement retailer’s stock worth $39,312,000 after acquiring an additional 1,011,000 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Home Depot by 282.2% during the third quarter. Renaissance Technologies LLC now owns 1,281,506 shares of the home improvement retailer’s stock worth $265,464,000 after acquiring an additional 946,206 shares during the period. Finally, Boston Partners bought a new stake in shares of Home Depot during the fourth quarter worth approximately $147,976,000. 69.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HD stock opened at $205.77 on Monday. The company has a debt-to-equity ratio of 17.68, a current ratio of 1.04 and a quick ratio of 0.26. The company has a market capitalization of $226.41 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.90 and a beta of 1.11. Home Depot Inc has a 1 year low of $158.09 and a 1 year high of $215.43.
Home Depot announced that its board has authorized a stock repurchase program on Tuesday, February 26th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, June 6th will be paid a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 55.01%.
In other Home Depot news, EVP Matt Carey sold 34,688 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $202.09, for a total transaction of $7,010,097.92. Following the completion of the sale, the executive vice president now directly owns 81,982 shares in the company, valued at $16,567,742.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carol B. Tome sold 26,334 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $189.17, for a total value of $4,981,602.78. Following the sale, the chief financial officer now owns 519,253 shares of the company’s stock, valued at $98,227,090.01. The disclosure for this sale can be found here. Insiders have sold 82,522 shares of company stock valued at $16,156,831 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.
A number of brokerages have recently issued reports on HD. Zacks Investment Research upgraded Home Depot from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Stifel Nicolaus boosted their price objective on Home Depot from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. Bank of America restated a “neutral” rating and set a $202.00 price objective on shares of Home Depot in a report on Thursday, April 11th. Morgan Stanley boosted their price objective on Home Depot from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Evercore ISI began coverage on Home Depot in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $215.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Home Depot presently has an average rating of “Buy” and a consensus 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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