Inverness Counsel LLC NY reduced its stake in Home Depot, Inc. (The) (NYSE:HD) by 8.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 193,782 shares of the home improvement retailer’s stock after selling 16,801 shares during the period. Home Depot comprises 2.2% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 10th largest position. Inverness Counsel LLC NY’s holdings in Home Depot were worth $31,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Home Depot by 0.9% during the second quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after buying an additional 703,292 shares during the period. Capital Research Global Investors increased its stake in shares of Home Depot by 0.9% during the second quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock valued at $3,071,943,000 after buying an additional 170,139 shares during the period. Northern Trust Corp increased its stake in shares of Home Depot by 1.3% during the second quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after buying an additional 222,958 shares during the period. Alliancebernstein L.P. increased its stake in shares of Home Depot by 1.1% during the second quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock valued at $1,231,485,000 after buying an additional 84,750 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Home Depot by 14.4% during the second quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock valued at $930,903,000 after buying an additional 761,586 shares during the period. 70.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of Home Depot, Inc. (NYSE:HD) opened at $187.31 on Thursday. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. Home Depot, Inc. has a 1 year low of $133.05 and a 1 year high of $187.90. The firm has a market capitalization of $217,177.95, a P/E ratio of 25.83, a P/E/G ratio of 1.89 and a beta of 1.11.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.53 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. research analysts predict that Home Depot, Inc. will post 7.37 EPS for the current fiscal year.

Home Depot announced that its board has approved a stock buyback program on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is 49.44%.

In other Home Depot news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total value of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

HD has been the topic of several research analyst reports. Zacks Investment Research cut 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 target price on 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 target price on Home Depot and gave the company a “buy” rating in a research note on Monday, October 30th. Credit Suisse Group set a $171.00 target price on Home Depot and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Bank of America boosted their target price on Home Depot from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $183.28.

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Home Depot 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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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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