Home Depot, Inc. (The) (HD) Position Trimmed by Lord Abbett & CO. LLC
Lord Abbett & CO. LLC cut its holdings in shares of Home Depot, Inc. (The) (NYSE:HD) by 33.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,210 shares of the home improvement retailer’s stock after selling 51,900 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Home Depot were worth $15,986,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Farmers National Bank raised its holdings in shares of Home Depot by 27.4% in the 2nd quarter. Farmers National Bank now owns 9,093 shares of the home improvement retailer’s stock worth $1,395,000 after purchasing an additional 1,955 shares during the period. RNC Capital Management LLC raised its holdings in shares of Home Depot by 5.4% in the 2nd quarter. RNC Capital Management LLC now owns 6,504 shares of the home improvement retailer’s stock worth $998,000 after purchasing an additional 333 shares during the period. Ashburton Jersey Ltd raised its holdings in shares of Home Depot by 4.4% in the 2nd quarter. Ashburton Jersey Ltd now owns 87,299 shares of the home improvement retailer’s stock worth $13,392,000 after purchasing an additional 3,701 shares during the period. Atlantic Trust LLC raised its holdings in shares of Home Depot by 12.8% in the 2nd quarter. Atlantic Trust LLC now owns 20,332 shares of the home improvement retailer’s stock worth $3,119,000 after purchasing an additional 2,309 shares during the period. Finally, WFG Advisors LP raised its holdings in shares of Home Depot by 9.8% in the 2nd quarter. WFG Advisors LP now owns 10,692 shares of the home improvement retailer’s stock worth $1,640,000 after purchasing an additional 955 shares during the period. Hedge funds and other institutional investors own 70.37% of the company’s stock.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the completion of the sale, the executive vice president now owns 29,559 shares in the company, valued at approximately $5,410,183.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by company insiders.
Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. Home Depot had a return on equity of 238.88% and a net margin of 8.66%. The firm had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.53 billion. During the same quarter last year, the firm earned $1.60 EPS. Home Depot’s quarterly revenue was up 8.1% on a year-over-year basis. equities research analysts forecast that Home Depot, Inc. will post 7.37 earnings per share for the current year.
Home Depot announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 6th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.89 per share. The ex-dividend date was Wednesday, November 29th. This represents a $3.56 dividend on an annualized basis and a yield of 1.95%. Home Depot’s dividend payout ratio (DPR) is presently 49.44%.
HD has been the topic of a number of research reports. UBS restated a “buy” rating and issued a $175.00 price objective on shares of Home Depot in a report on Friday, August 18th. Vetr upgraded Home Depot from a “buy” rating to a “strong-buy” rating and set a $166.59 price objective on the stock in a report on Monday, August 21st. BidaskClub downgraded Home Depot from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Zacks Investment Research downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Bank of America reiterated a “buy” rating and set a $170.00 target price on shares of Home Depot in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $183.28.
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Home Depot Profile
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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