Home Depot Inc (HD) Position Reduced by Gateway Investment Advisers LLC
Gateway Investment Advisers LLC decreased its stake in Home Depot Inc (NYSE:HD) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,511 shares of the home improvement retailer’s stock after selling 48,100 shares during the quarter. Home Depot makes up about 1.1% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 14th largest position. Gateway Investment Advisers LLC’s holdings in Home Depot were worth $133,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. boosted its stake in Home Depot by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,651 shares of the home improvement retailer’s stock worth $253,000 after purchasing an additional 7 shares in the last quarter. Mcdaniel Terry & Co. raised its position in shares of Home Depot by 0.5% during the second quarter. Mcdaniel Terry & Co. now owns 1,678 shares of the home improvement retailer’s stock worth $257,000 after acquiring an additional 9 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in shares of Home Depot by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 3,782 shares of the home improvement retailer’s stock worth $580,000 after acquiring an additional 10 shares during the last quarter. Fort Pitt Capital Group LLC raised its position in shares of Home Depot by 0.3% during the second quarter. Fort Pitt Capital Group LLC now owns 3,444 shares of the home improvement retailer’s stock worth $528,000 after acquiring an additional 10 shares during the last quarter. Finally, Train Babcock Advisors LLC raised its position in shares of Home Depot by 0.4% during the second quarter. Train Babcock Advisors LLC now owns 4,823 shares of the home improvement retailer’s stock worth $739,000 after acquiring an additional 21 shares during the last quarter. 70.63% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on HD shares. BMO Capital Markets boosted their target price on Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. BTIG Research boosted their target price on Home Depot to $215.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Argus upped their price objective on Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Oppenheimer set a $178.00 price objective on Home Depot and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, Jefferies Group reiterated a “buy” rating and issued a $223.00 price objective on shares of Home Depot in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $193.15.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.62 by $0.07. Home Depot had a return on equity of 306.73% and a net margin of 8.55%. The firm had revenue of $23.88 billion during the quarter, compared to analysts’ expectations of $23.65 billion. During the same period in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. research analysts anticipate that Home Depot Inc will post 9.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Home Depot’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Wednesday, March 7th. Home Depot’s dividend payout ratio (DPR) is presently 55.68%.
Home Depot declared that its Board of Directors has authorized a share buyback program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In other news, EVP Edward P. Decker sold 17,660 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.32, for a total value of $3,308,071.20. Following the completion of the sale, the executive vice president now directly owns 73,815 shares of the company’s stock, valued at $13,827,025.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Craig A. Menear sold 113,687 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $183.79, for a total value of $20,894,533.73. Following the completion of the sale, the chief executive officer now directly owns 237,957 shares of the company’s stock, valued at $43,734,117.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,027 shares of company stock valued at $31,220,882. Insiders own 0.26% of the company’s stock.
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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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