Arrow Financial Corp boosted its position in shares of Home Depot, Inc. (The) (NYSE:HD) by 31.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,305 shares of the home improvement retailer’s stock after acquiring an additional 5,771 shares during the quarter. Home Depot accounts for approximately 0.9% of Arrow Financial Corp’s investment portfolio, making the stock its 27th biggest holding. Arrow Financial Corp’s holdings in Home Depot were worth $3,976,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC increased its holdings in shares of Home Depot by 2,013.2% in the second quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock valued at $509,247,000 after purchasing an additional 3,162,631 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Home Depot by 15,121.1% in the second quarter. Harbour Capital Advisors LLC now owns 1,865,037 shares of the home improvement retailer’s stock valued at $12,158,000 after purchasing an additional 1,852,784 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Home Depot in the second quarter valued at $133,780,000. Parametric Portfolio Associates LLC increased its holdings in shares of Home Depot by 35.2% in the second quarter. Parametric Portfolio Associates LLC now owns 3,265,338 shares of the home improvement retailer’s stock valued at $500,903,000 after purchasing an additional 850,074 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Home Depot by 14.4% in 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 purchasing an additional 761,586 shares during the last quarter. 70.16% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on HD shares. Royal Bank of Canada reiterated a “buy” rating and issued a $179.00 price objective on shares of Home Depot in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a report on Thursday, August 24th. Robert W. Baird set a $175.00 price objective on shares of Home Depot and gave the company a “buy” rating in a report on Sunday, September 10th. Bank of America reiterated a “buy” rating and issued a $170.00 price objective on shares of Home Depot in a report on Tuesday, September 5th. Finally, Gordon Haskett started coverage on shares of Home Depot in a report on Tuesday, October 3rd. They issued a “buy” rating and a $189.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Home Depot has a consensus rating of “Buy” and an average price target of $183.28.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.03. The business had revenue of $25.03 billion for 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%. Home Depot’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 earnings per share. research analysts anticipate that Home Depot, Inc. will post 7.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th were paid 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 1.91%. Home Depot’s payout ratio is 49.44%.
Home Depot announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the 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 sale, the executive vice president now directly owns 29,559 shares in the company, valued at $5,410,183.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.26% of the company’s stock.
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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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