SOL Capital Management CO Cuts Stake in Home Depot Inc (HD)

SOL Capital Management CO cut its position in Home Depot Inc (NYSE:HD) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,402 shares of the home improvement retailer’s stock after selling 100 shares during the period. SOL Capital Management CO’s holdings in Home Depot were worth $2,646,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Home Depot by 0.3% during the third quarter. Vanguard Group Inc. now owns 82,981,380 shares of the home improvement retailer’s stock worth $17,189,593,000 after acquiring an additional 278,763 shares during the period. Vanguard Group Inc boosted its position in Home Depot by 0.3% during the third quarter. Vanguard Group Inc now owns 82,981,380 shares of the home improvement retailer’s stock worth $17,189,593,000 after purchasing an additional 278,763 shares in the last quarter. FMR LLC boosted its position in Home Depot by 2.8% during the third quarter. FMR LLC now owns 29,811,794 shares of the home improvement retailer’s stock worth $6,175,512,000 after purchasing an additional 813,882 shares in the last quarter. Alliancebernstein L.P. boosted its position in Home Depot by 4.3% during the third quarter. Alliancebernstein L.P. now owns 9,871,732 shares of the home improvement retailer’s stock worth $2,044,929,000 after purchasing an additional 407,767 shares in the last quarter. Finally, Capital International Investors boosted its position in Home Depot by 129.2% during the third quarter. Capital International Investors now owns 7,080,765 shares of the home improvement retailer’s stock worth $1,466,780,000 after purchasing an additional 3,991,462 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors and hedge funds.

HD has been the topic of a number of recent analyst reports. Edward Jones upgraded Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. DZ Bank downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Citigroup lowered their price target on Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a research report on Monday, April 1st. Deutsche Bank increased their price target on Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Finally, Credit Suisse Group lowered their price target on Home Depot from $194.00 to $192.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 27th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Home Depot has an average rating of “Buy” and an average price target of $203.61.

In other news, EVP Mark Holifield sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total value of $2,203,200.00. Following the transaction, the executive vice president now owns 39,794 shares in the company, valued at $7,306,178.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 5,450 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the completion of the transaction, the executive vice president now owns 51,030 shares in the company, valued at approximately $9,423,710.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,194 shares of company stock worth $7,553,141. Company insiders own 0.25% of the company’s stock.

NYSE HD opened at $199.43 on Thursday. The company has a market capitalization of $221.77 billion, a PE ratio of 20.31, a PEG ratio of 1.74 and a beta of 1.09. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $215.43. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.09. The business had revenue of $26.49 billion for the quarter, compared to the consensus estimate of $26.57 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.69 earnings per share. On average, research analysts predict that Home Depot Inc will post 10.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s dividend payout ratio (DPR) is 55.01%.

Home Depot declared that its board has authorized a stock repurchase plan on Tuesday, February 26th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

WARNING: “SOL Capital Management CO Cuts Stake in Home Depot Inc (HD)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://www.com-unik.info/2019/04/11/sol-capital-management-co-cuts-stake-in-home-depot-inc-hd.html.

About Home Depot

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.

Featured Story: Asset Allocation Models, Which is Right For You?

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit