Panagora Asset Management Inc. Increases Position in The Home Depot, Inc. (NYSE:HD)

Panagora Asset Management Inc. grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 39.5% during the first quarter, HoldingsChannel reports. The firm owned 649,956 shares of the home improvement retailer’s stock after purchasing an additional 184,032 shares during the quarter. The Home Depot accounts for approximately 1.1% of Panagora Asset Management Inc.’s holdings, making the stock its 10th biggest position. Panagora Asset Management Inc.’s holdings in The Home Depot were worth $198,399,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Chase Investment Counsel Corp increased its holdings in shares of The Home Depot by 2.2% during the 1st quarter. Chase Investment Counsel Corp now owns 1,419 shares of the home improvement retailer’s stock valued at $433,000 after purchasing an additional 30 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of The Home Depot by 1.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 2,424 shares of the home improvement retailer’s stock valued at $740,000 after purchasing an additional 30 shares in the last quarter. Wealth Enhancement & Preservation of GA LLC increased its holdings in shares of The Home Depot by 0.7% during the 1st quarter. Wealth Enhancement & Preservation of GA LLC now owns 4,577 shares of the home improvement retailer’s stock valued at $1,466,000 after purchasing an additional 31 shares in the last quarter. Bingham Osborn & Scarborough LLC increased its holdings in shares of The Home Depot by 2.0% during the 1st quarter. Bingham Osborn & Scarborough LLC now owns 1,568 shares of the home improvement retailer’s stock valued at $479,000 after purchasing an additional 31 shares in the last quarter. Finally, Baldwin Brothers Inc. MA increased its holdings in shares of The Home Depot by 1.7% during the 1st quarter. Baldwin Brothers Inc. MA now owns 1,892 shares of the home improvement retailer’s stock valued at $578,000 after purchasing an additional 32 shares in the last quarter. 69.48% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently weighed in on HD. Royal Bank of Canada lifted their target price on shares of The Home Depot from $377.00 to $386.00 and gave the company an “outperform” rating in a report on Wednesday, May 19th. Zelman & Associates lowered shares of The Home Depot from a “buy” rating to a “hold” rating in a report on Thursday, April 15th. Raymond James lifted their price target on shares of The Home Depot from $305.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, May 13th. Wells Fargo & Company lifted their price target on shares of The Home Depot from $330.00 to $360.00 in a research note on Wednesday, May 5th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of The Home Depot from $288.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, May 4th. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $325.21.

In other news, EVP Matt Carey sold 113,138 shares of the business’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $316.00, for a total transaction of $35,751,608.00. Following the transaction, the executive vice president now owns 78,594 shares of the company’s stock, valued at approximately $24,835,704. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

Shares of HD stock traded up $1.42 on Thursday, hitting $308.76. 95,821 shares of the stock traded hands, compared to its average volume of 4,372,329. The company’s 50-day moving average price is $320.25. The company has a quick ratio of 0.41, a current ratio of 1.11 and a debt-to-equity ratio of 19.85. The company has a market capitalization of $328.29 billion, a PE ratio of 22.42, a PEG ratio of 1.95 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $234.31 and a twelve month high of $345.69.

The Home Depot (NYSE:HD) last announced its quarterly earnings results on Monday, May 17th. The home improvement retailer reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.78. The firm had revenue of $37.50 billion for the quarter, compared to analysts’ expectations of $33.68 billion. The Home Depot had a net margin of 10.45% and a return on equity of 963.88%. The company’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 13.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd will be given a dividend of $1.65 per share. The ex-dividend date is Wednesday, June 2nd. This represents a $6.60 annualized dividend and a dividend yield of 2.14%. The Home Depot’s payout ratio is 54.86%.

The Home Depot announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 20th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

The 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, building materials, 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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Institutional Ownership by Quarter for The Home Depot (NYSE:HD)

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