Meeder Asset Management Inc. Buys 11,684 Shares of Home Depot, Inc. (The) (HD)
Meeder Asset Management Inc. boosted its holdings in Home Depot, Inc. (The) (NYSE:HD) by 37.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,260 shares of the home improvement retailer’s stock after acquiring an additional 11,684 shares during the period. Home Depot accounts for about 0.8% of Meeder Asset Management Inc.’s portfolio, making the stock its 19th largest holding. Meeder Asset Management Inc.’s holdings in Home Depot were worth $7,076,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Jackson Grant Investment Advisers Inc. lifted its holdings in Home Depot by 0.4% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 1,644 shares of the home improvement retailer’s stock valued at $241,000 after acquiring an additional 6 shares during the last quarter. Mascoma Wealth Management LLC lifted its holdings 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 acquiring an additional 7 shares during the last quarter. Paragon Wealth Strategies LLC lifted its holdings in Home Depot by 0.4% in the second quarter. Paragon Wealth Strategies LLC now owns 1,825 shares of the home improvement retailer’s stock valued at $280,000 after acquiring an additional 7 shares during the last quarter. Pineno Levin & Ford Asset Management Inc. lifted its holdings in Home Depot by 0.3% in the first quarter. Pineno Levin & Ford Asset Management Inc. now owns 2,725 shares of the home improvement retailer’s stock valued at $400,000 after acquiring an additional 9 shares during the last quarter. Finally, Silicon Valley Capital Partners lifted its holdings in Home Depot by 0.6% in the second quarter. Silicon Valley Capital Partners now owns 1,485 shares of the home improvement retailer’s stock valued at $228,000 after acquiring an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.
A number of research analysts recently commented on the company. Moffett Nathanson assumed coverage on Home Depot in a report on Monday, December 4th. They issued a “buy” rating on the stock. Morgan Stanley set a $185.00 target price on Home Depot and gave the company a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. Guggenheim began coverage on Home Depot in a research report on Wednesday, December 13th. They issued a “buy” rating and a $200.00 target price on the stock. Finally, BMO Capital Markets set a $191.00 target price on Home Depot and gave the company a “buy” rating in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Home Depot currently has an average rating of “Buy” and an average price target of $183.28.
Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, topping 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 business had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.53 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. research analysts forecast that Home Depot, Inc. will post 7.37 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Wednesday, November 29th. Home Depot’s dividend payout ratio is currently 49.44%.
Home Depot declared that its board has approved a stock repurchase plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Matt Carey sold 41,396 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 29,559 shares of the company’s stock, valued at $5,410,183.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.
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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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