First Merchants Corp raised its position in Home Depot Inc (NYSE:HD) by 52.0% during the third quarter, HoldingsChannel.com reports. The firm owned 10,728 shares of the home improvement retailer’s stock after purchasing an additional 3,672 shares during the period. First Merchants Corp’s holdings in Home Depot were worth $1,754,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Beaumont Financial Partners LLC lifted its position in shares of Home Depot by 7.4% during the 3rd quarter. Beaumont Financial Partners LLC now owns 4,692 shares of the home improvement retailer’s stock valued at $767,000 after acquiring an additional 323 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Home Depot by 0.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 1,727,165 shares of the home improvement retailer’s stock valued at $282,495,000 after acquiring an additional 5,660 shares during the period. Rothschild Capital Partners LLC lifted its position in shares of Home Depot by 324.1% during the 3rd quarter. Rothschild Capital Partners LLC now owns 21,631 shares of the home improvement retailer’s stock valued at $3,538,000 after acquiring an additional 16,531 shares during the period. Wedbush Securities Inc. raised its holdings in Home Depot by 4.5% during the third quarter. Wedbush Securities Inc. now owns 27,053 shares of the home improvement retailer’s stock worth $4,425,000 after buying an additional 1,168 shares during the last quarter. Finally, Csenge Advisory Group acquired a new position in Home Depot during the third quarter worth $1,897,000. Hedge funds and other institutional investors own 70.14% of the company’s stock.
Several research analysts have weighed in on HD shares. Zacks Investment Research downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Royal Bank of Canada restated a “buy” rating and set a $179.00 price objective on shares of Home Depot in a report on Monday, September 18th. Piper Jaffray Companies restated a “hold” rating and set a $164.00 price objective on shares of Home Depot in a report on Sunday, October 1st. Gordon Haskett started coverage on shares of Home Depot in a report on Tuesday, October 3rd. They set a “buy” rating and a $189.00 price objective on the stock. Finally, Credit Suisse Group set a $171.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $183.28.
Home Depot Inc (NYSE 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. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. Home Depot Inc has a 1 year low of $133.94 and a 1 year high of $194.73.
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, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.03. The company had revenue of $25.03 billion during 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%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. equities analysts forecast that Home Depot Inc will post 7.37 EPS for the current year.
The business 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 annualized dividend and a yield of 1.83%. Home Depot’s payout ratio is currently 49.38%.
Home Depot announced that its board has approved a stock buyback plan 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. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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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