Sentry Investment Management LLC Has $12.56 Million Stake in Home Depot, Inc. (The) (HD)
Sentry Investment Management LLC reduced its position in shares of Home Depot, Inc. (The) (NYSE:HD) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,866 shares of the home improvement retailer’s stock after selling 447 shares during the period. Sentry Investment Management LLC’s holdings in Home Depot were worth $12,558,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position 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 purchasing an additional 703,292 shares in the last quarter. Capital Research Global Investors raised its position in Home Depot by 0.9% in the second quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock worth $3,071,943,000 after acquiring an additional 170,139 shares during the period. Northern Trust Corp raised its position in Home Depot by 1.3% in the second quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock worth $2,659,010,000 after acquiring an additional 222,958 shares during the period. Alliancebernstein L.P. raised its position in Home Depot by 1.1% in the second quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock worth $1,231,485,000 after acquiring an additional 84,750 shares during the period. Finally, Clearbridge Investments LLC raised its position in Home Depot by 1.8% in the first quarter. Clearbridge Investments LLC now owns 7,890,301 shares of the home improvement retailer’s stock worth $1,158,533,000 after acquiring an additional 140,221 shares during the period. 70.37% of the stock is currently owned by institutional investors.
Several analysts have commented on HD shares. Bank of America reaffirmed a “buy” rating and issued a $170.00 price objective on shares of Home Depot in a research report on Tuesday, September 5th. Vetr raised shares of Home Depot from a “buy” rating to a “strong-buy” rating and set a $166.59 price objective on the stock in a research report on Monday, August 28th. Zacks Investment Research lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Credit Suisse Group set a $171.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, BidaskClub lowered shares of Home Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $182.72.
Home Depot, Inc. (HD) traded up $0.30 on Friday, hitting $182.43. 3,504,384 shares of the stock traded hands, compared to its average volume of 4,475,052. The stock has a market capitalization of $213,733.11, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. Home Depot, Inc. has a 52-week low of $133.05 and a 52-week high of $186.31.
Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.03. The firm had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. research analysts expect that Home Depot, Inc. will post 7.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were paid a dividend of $0.89 per share. The ex-dividend date was Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.95%. Home Depot’s dividend payout ratio is currently 49.44%.
Home Depot declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 6th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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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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