Ipswich Investment Management Co. Inc. Takes Position in Home Depot Inc (HD)
Ipswich Investment Management Co. Inc. acquired a new stake in Home Depot Inc (NYSE:HD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,595 shares of the home improvement retailer’s stock, valued at approximately $1,573,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fiera Capital Corp grew its holdings in Home Depot by 83.7% during the second quarter. Fiera Capital Corp now owns 6,860 shares of the home improvement retailer’s stock worth $1,338,000 after acquiring an additional 3,125 shares during the period. Amalgamated Bank grew its holdings in Home Depot by 4.2% during the second quarter. Amalgamated Bank now owns 180,040 shares of the home improvement retailer’s stock worth $35,126,000 after acquiring an additional 7,323 shares during the period. Dupont Capital Management Corp grew its holdings in Home Depot by 3.3% during the second quarter. Dupont Capital Management Corp now owns 190,998 shares of the home improvement retailer’s stock worth $37,264,000 after acquiring an additional 6,025 shares during the period. Parsons Capital Management Inc. RI grew its holdings in Home Depot by 1.9% during the second quarter. Parsons Capital Management Inc. RI now owns 49,045 shares of the home improvement retailer’s stock worth $9,569,000 after acquiring an additional 938 shares during the period. Finally, Heritage Investors Management Corp grew its holdings in Home Depot by 0.3% during the second quarter. Heritage Investors Management Corp now owns 144,425 shares of the home improvement retailer’s stock worth $28,177,000 after acquiring an additional 395 shares during the period. Institutional investors own 69.85% of the company’s stock.
A number of brokerages recently weighed in on HD. Wells Fargo & Co reaffirmed a “buy” rating and set a $230.00 price objective on shares of Home Depot in a report on Sunday, September 16th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, August 21st. They set a “buy” rating and a $228.00 price objective on the stock. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $228.00 price objective on the stock in a report on Friday, October 5th. Citigroup upped their price objective on Home Depot from $205.00 to $220.00 and gave the stock a “positive” rating in a report on Friday, August 10th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $203.00 price objective on shares of Home Depot in a report on Thursday, August 16th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $205.43.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 13th. The home improvement retailer reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.24. The company had revenue of $26.30 billion for the quarter, compared to the consensus estimate of $26.23 billion. Home Depot had a return on equity of 664.88% and a net margin of 10.00%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $1.84 EPS. On average, equities analysts forecast that Home Depot Inc will post 9.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.35%. Home Depot’s dividend payout ratio (DPR) is 55.23%.
In related news, EVP Ann Marie Campbell sold 13,457 shares of the firm’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $172.64, for a total transaction of $2,323,216.48. Following the sale, the executive vice president now directly owns 56,198 shares in the company, valued at approximately $9,702,022.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark C. Vadon bought 11,500 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were bought at an average price of $174.27 per share, for a total transaction of $2,004,105.00. Following the completion of the acquisition, the director now owns 31,095 shares in the company, valued at approximately $5,418,925.65. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 13,750 shares of company stock worth $2,401,470. Company insiders own 0.25% of the company’s stock.
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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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