Amalgamated Bank Has $21.75 Million Position in Home Depot, Inc. (The) (HD)
Amalgamated Bank lifted its position in Home Depot, Inc. (The) (NYSE:HD) by 50.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 141,806 shares of the home improvement retailer’s stock after purchasing an additional 47,854 shares during the quarter. Home Depot comprises about 0.7% of Amalgamated Bank’s holdings, making the stock its 17th biggest holding. Amalgamated Bank’s holdings in Home Depot were worth $21,753,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in HD. ING Groep NV raised its holdings in Home Depot by 47.0% during the first quarter. ING Groep NV now owns 291,115 shares of the home improvement retailer’s stock worth $42,744,000 after purchasing an additional 93,107 shares in the last quarter. State Treasurer State of Michigan grew its position in shares of Home Depot by 8.7% during the first quarter. State Treasurer State of Michigan now owns 1,470,028 shares of the home improvement retailer’s stock worth $215,844,000 after acquiring an additional 117,400 shares during the last quarter. Grimes & Company Inc. grew its position in shares of Home Depot by 40.3% during the first quarter. Grimes & Company Inc. now owns 7,106 shares of the home improvement retailer’s stock worth $1,043,000 after acquiring an additional 2,041 shares during the last quarter. Alpha Cubed Investments LLC grew its position in shares of Home Depot by 2.2% during the first quarter. Alpha Cubed Investments LLC now owns 5,563 shares of the home improvement retailer’s stock worth $817,000 after acquiring an additional 118 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new position in Home Depot in the 1st quarter valued at $265,000. 70.37% of the stock is owned by hedge funds and other institutional investors.
HD has been the topic of a number of analyst reports. BTIG Research lifted their price objective on shares of Home Depot to $215.00 and gave the company a “buy” rating in a research report on Thursday. Argus lifted their price objective on shares of Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Oppenheimer set a $178.00 target price on Home Depot and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, Jefferies Group reissued a “buy” rating and issued a $182.00 target price on shares of Home Depot in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $181.67.
Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.53 billion. During the same quarter in the prior year, the business posted $1.60 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities analysts expect that Home Depot, Inc. will post 7.37 EPS for the current fiscal year.
Home Depot announced that its Board of Directors has approved a stock repurchase plan on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes 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 stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.95%. Home Depot’s dividend payout ratio is currently 49.44%.
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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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