Home Depot Inc (NYSE:HD) Shares Bought by Smith Moore & CO.
Smith Moore & CO. raised its holdings in shares of Home Depot Inc (NYSE:HD) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,688 shares of the home improvement retailer’s stock after buying an additional 297 shares during the quarter. Smith Moore & CO.’s holdings in Home Depot were worth $1,665,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of HD. Oregon Public Employees Retirement Fund increased its position 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 valued at $125,000 after purchasing an additional 21,212,570 shares during the period. Capital International Investors increased its position 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 valued at $1,466,780,000 after purchasing an additional 3,991,462 shares during the period. Packer & Co Ltd increased its position 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 valued at $39,312,000 after purchasing an additional 1,011,000 shares during the period. Renaissance Technologies LLC increased its position 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 valued at $265,464,000 after purchasing an additional 946,206 shares during the period. Finally, Boston Partners bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $147,976,000. Institutional investors own 69.43% of the company’s stock.
Shares of HD stock opened at $202.35 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.26 and a debt-to-equity ratio of 17.68. The firm has a market cap of $218.89 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. Home Depot Inc has a 52 week low of $158.09 and a 52 week high of $215.43.
Home Depot declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 26th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to reacquire up to 6.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, June 5th. Home Depot’s payout ratio is presently 55.01%.
In other news, EVP Timothy A. Hourigan sold 13,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $193.30, for a total transaction of $2,512,900.00. Following the transaction, the executive vice president now owns 64,575 shares of the company’s stock, valued at $12,482,347.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Carol B. Tome sold 26,334 shares of the company’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 directly owns 519,253 shares in the company, valued at approximately $98,227,090.01. The disclosure for this sale can be found here. Insiders have sold 82,522 shares of company stock worth $16,156,831 in the last 90 days. Company insiders own 0.27% of the company’s stock.
A number of brokerages have weighed in on HD. Wedbush set a $190.00 price target on Home Depot and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research upgraded Home Depot from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Stifel Nicolaus upped their price target on Home Depot from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Royal Bank of Canada lowered their price target on Home Depot from $223.00 to $217.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Finally, Wells Fargo & Co upped their price target on Home Depot from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $205.29.
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About Home Depot
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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