Kornitzer Capital Management Inc. KS Sells 6,310 Shares of Home Depot Inc (HD)
Kornitzer Capital Management Inc. KS lessened its holdings in shares of Home Depot Inc (NYSE:HD) by 9.0% in the 3rd quarter, Holdings Channel reports. The firm owned 63,963 shares of the home improvement retailer’s stock after selling 6,310 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Home Depot were worth $10,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of HD. Jacobi Capital Management LLC grew its position in Home Depot by 16.4% during the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after buying an additional 101 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in Home Depot by 63.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after buying an additional 340 shares during the period. Glassman Wealth Services grew its position in Home Depot by 38.3% during the second quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after buying an additional 300 shares during the period. St. Johns Investment Management Company LLC grew its position in Home Depot by 81.8% during the second quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after buying an additional 495 shares during the period. Finally, Mascoma Wealth Management LLC grew its position in Home Depot by 0.6% during the second quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after buying an additional 7 shares during the period. 70.14% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently commented on the stock. Oppenheimer restated a “buy” rating on shares of Home Depot in a research report on Tuesday, December 26th. Moffett Nathanson assumed coverage on shares of Home Depot in a research report on Monday, December 4th. They set a “buy” rating on the stock. Morgan Stanley set a $185.00 price target on shares of Home Depot and gave the company a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Finally, Guggenheim assumed coverage on shares of Home Depot in a research report on Wednesday, December 13th. They set a “buy” rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $183.28.
In related news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the transaction, the executive vice president now directly owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.
Home Depot Inc (HD) opened at $194.68 on Friday. The firm has a market cap of $227,340.00, a PE ratio of 27.00, a P/E/G ratio of 1.96 and a beta of 1.11. Home Depot Inc has a 52-week low of $133.94 and a 52-week high of $194.73. 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 (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. Home Depot’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 earnings per share. analysts anticipate that Home Depot Inc will post 7.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.56 dividend on an annualized basis and a yield of 1.83%. Home Depot’s payout ratio is presently 49.38%.
Home Depot declared that its board has authorized a share repurchase program on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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