Shaker Investments LLC OH Acquires New Stake in Home Depot Inc (HD)
Shaker Investments LLC OH acquired a new stake in shares of Home Depot Inc (NYSE:HD) during the second quarter, Holdings Channel reports. The firm acquired 1,730 shares of the home improvement retailer’s stock, valued at approximately $338,000.
A number of other hedge funds have also recently bought and sold shares of HD. First National Trust Co boosted its stake in shares of Home Depot by 3.2% during the second quarter. First National Trust Co now owns 72,645 shares of the home improvement retailer’s stock valued at $14,173,000 after purchasing an additional 2,265 shares during the period. RB Capital Management LLC boosted its stake in shares of Home Depot by 16.3% during the second quarter. RB Capital Management LLC now owns 3,692 shares of the home improvement retailer’s stock valued at $720,000 after purchasing an additional 517 shares during the period. Lyell Wealth Management LP boosted its stake in shares of Home Depot by 3.9% during the second quarter. Lyell Wealth Management LP now owns 23,124 shares of the home improvement retailer’s stock valued at $4,511,000 after purchasing an additional 873 shares during the period. Dimension Capital Management LLC purchased a new stake in shares of Home Depot during the second quarter valued at $205,000. Finally, Pinnacle Financial Partners Inc. boosted its stake in shares of Home Depot by 34.4% during the second quarter. Pinnacle Financial Partners Inc. now owns 18,610 shares of the home improvement retailer’s stock valued at $3,631,000 after purchasing an additional 4,759 shares during the period. Institutional investors and hedge funds own 68.97% of the company’s stock.
HD has been the subject of a number of recent analyst reports. Citigroup reissued a “buy” rating and set a $227.00 target price on shares of Home Depot in a research note on Wednesday, August 15th. Wells Fargo & Co reissued a “buy” rating and set a $230.00 target price on shares of Home Depot in a research note on Sunday, September 16th. Jefferies Financial Group started coverage on shares of Home Depot in a research note on Tuesday, August 21st. They issued a “buy” rating and a $228.00 price objective for the company. ValuEngine raised shares of Home Depot from a “hold” rating to a “buy” rating in a research note on Monday, July 2nd. Finally, UBS Group upped their price objective on shares of Home Depot from $212.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, June 20th. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $205.92.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 EPS for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.21. The business had revenue of $30.46 billion during the quarter, compared to the consensus estimate of $30.04 billion. Home Depot had a net margin of 9.45% and a return on equity of 522.68%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. sell-side analysts anticipate that Home Depot Inc will post 9.58 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th were issued a $1.03 dividend. The ex-dividend date was Wednesday, August 29th. This represents a $4.12 dividend on an annualized basis and a yield of 1.94%. Home Depot’s dividend payout ratio is presently 55.23%.
In other Home Depot news, EVP Matt Carey sold 4,125 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $195.43, for a total value of $806,148.75. Following the completion of the transaction, the executive vice president now directly owns 60,179 shares in the company, valued at $11,760,781.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William G. Lennie sold 10,854 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total transaction of $2,188,600.56. Following the completion of the transaction, the executive vice president now owns 40,057 shares of the company’s stock, valued at $8,077,093.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.
Home Depot Profile
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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