Home Depot, Inc. (The) (HD) Shares Sold by Radnor Capital Management LLC
Radnor Capital Management LLC decreased its holdings in shares of Home Depot, Inc. (The) (NYSE:HD) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,874 shares of the home improvement retailer’s stock after selling 40 shares during the period. Radnor Capital Management LLC’s holdings in Home Depot were worth $594,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. American Beacon Advisors Inc. purchased a new stake in Home Depot in the first quarter valued at approximately $100,000. St. Johns Investment Management Company LLC boosted its position in Home Depot by 81.8% in the second quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after buying an additional 495 shares during the last quarter. Mascoma Wealth Management LLC boosted its position in Home Depot by 0.6% in the second quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after buying an additional 7 shares during the last quarter. Thompson Davis & CO. Inc. boosted its position in Home Depot by 32.2% in the first quarter. Thompson Davis & CO. Inc. now owns 1,338 shares of the home improvement retailer’s stock valued at $196,000 after buying an additional 326 shares during the last quarter. Finally, Ruggie Capital Group boosted its position in Home Depot by 12.2% in the second quarter. Ruggie Capital Group now owns 1,299 shares of the home improvement retailer’s stock valued at $199,000 after buying an additional 141 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.
In other news, EVP Matt Carey sold 32,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $157.10, for a total transaction of $5,027,200.00. Following the completion of the transaction, the executive vice president now directly owns 62,483 shares of the company’s stock, valued at approximately $9,816,079.30. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company’s stock.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.03. The business had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 EPS. research analysts forecast that Home Depot, Inc. will post 7.38 EPS for the current year.
Home Depot declared that its board has approved a stock buyback plan on Wednesday, December 6th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s payout ratio is 49.44%.
A number of brokerages recently commented on HD. Moffett Nathanson assumed coverage on Home Depot in a research report on Monday. They issued a “buy” rating on the stock. Telsey Advisory Group boosted their price target on Home Depot from $180.00 to $190.00 and gave the company an “outperform” rating in a report on Monday. Robert W. Baird reissued an “outperform” rating and issued a $195.00 price target on shares of Home Depot in a report on Thursday, November 30th. Credit Suisse Group reissued an “outperform” rating and issued a $183.00 price target (up from $175.00) on shares of Home Depot in a report on Wednesday, November 29th. Finally, Atlantic Securities raised Home Depot from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $174.16 to $174.95 in a report on Tuesday, November 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Home Depot currently has a consensus rating of “Buy” and an average target price of $177.22.
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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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