Warren Averett Asset Management LLC increased its stake in Home Depot Inc (NYSE:HD) by 21.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,564 shares of the home improvement retailer’s stock after acquiring an additional 1,175 shares during the period. Warren Averett Asset Management LLC’s holdings in Home Depot were worth $1,074,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC increased its holdings in Home Depot by 16.4% during the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after purchasing an additional 101 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in Home Depot by 63.4% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock valued at $145,000 after purchasing an additional 340 shares during the period. Glassman Wealth Services increased its holdings in Home Depot by 38.3% during the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after purchasing an additional 300 shares during the period. St. Johns Investment Management Company LLC increased its holdings in Home Depot by 81.8% during the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after purchasing an additional 495 shares during the period. Finally, Mascoma Wealth Management LLC increased its holdings in Home Depot by 0.6% during the 2nd quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after purchasing an additional 7 shares during the period. 70.14% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on HD. Deutsche Bank boosted their price target on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Zacks Investment Research upgraded Home Depot from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Monday, September 11th. Argus upped their target price on Home Depot from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Robert W. Baird set a $175.00 target price on Home Depot and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Atlantic Securities upgraded Home Depot from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $174.16 to $174.95 in a report on Tuesday, November 28th. Two investment 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 issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $183.28.
Shares of Home Depot Inc (NYSE:HD) opened at $192.04 on Tuesday. 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 12-month low of $133.14 and a 12-month high of $193.72. The company has a market capitalization of $224,250.00, a P/E ratio of 26.64, a PEG ratio of 1.96 and a beta of 1.11.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The firm had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.53 billion. During the same period in the previous year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. research analysts predict that Home Depot Inc will post 7.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a $0.89 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.85%. Home Depot’s dividend payout ratio is currently 49.38%.
Home Depot declared that its board has initiated a stock repurchase plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
About Home Depot
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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