First National Bank & Trust Co. of Newtown lowered its stake in shares of Home Depot Inc (NYSE:HD) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,900 shares of the home improvement retailer’s stock after selling 1,056 shares during the quarter. Home Depot comprises about 2.2% of First National Bank & Trust Co. of Newtown’s holdings, making the stock its 8th largest position. First National Bank & Trust Co. of Newtown’s holdings in Home Depot were worth $8,131,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. National Pension Service boosted its holdings in Home Depot by 1.2% in the 4th quarter. National Pension Service now owns 1,000,796 shares of the home improvement retailer’s stock valued at $189,681,000 after purchasing an additional 11,847 shares in the last quarter. Asset Dedication LLC purchased a new stake in Home Depot in the 4th quarter valued at approximately $2,237,000. E&G Advisors LP boosted its holdings in Home Depot by 12.2% in the 4th quarter. E&G Advisors LP now owns 4,591 shares of the home improvement retailer’s stock valued at $870,000 after purchasing an additional 500 shares in the last quarter. Davis R M Inc. boosted its holdings in Home Depot by 2.0% in the 4th quarter. Davis R M Inc. now owns 13,457 shares of the home improvement retailer’s stock valued at $2,551,000 after purchasing an additional 270 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. purchased a new stake in Home Depot in the 4th quarter valued at approximately $262,000. 70.63% of the stock is currently owned by hedge funds and other institutional investors.
Home Depot Inc (NYSE HD) opened at $179.71 on Tuesday. The company has a debt-to-equity ratio of 16.69, a quick ratio of 0.38 and a current ratio of 1.17. Home Depot Inc has a 12-month low of $144.25 and a 12-month high of $207.60. The stock has a market capitalization of $212,717.17, a P/E ratio of 24.45, a P/E/G ratio of 1.40 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be given a dividend of $1.03 per share. This is an increase from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, March 7th. Home Depot’s payout ratio is currently 56.59%.
Home Depot declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
A number of equities research analysts have weighed in on HD shares. Credit Suisse Group reaffirmed a “hold” rating on shares of Home Depot in a report on Tuesday, December 12th. Deutsche Bank lifted their price objective on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, December 7th. SunTrust Banks lifted their price objective on Home Depot from $167.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, December 7th. Citigroup reaffirmed a “buy” rating and issued a $213.00 price objective on shares of Home Depot in a report on Thursday, December 7th. Finally, Bank of America reaffirmed a “buy” rating and issued a $190.60 price objective (down previously from $219.00) on shares of Home Depot in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $193.15.
In related news, CEO Craig A. Menear sold 113,687 shares of Home Depot stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $183.79, for a total transaction of $20,894,533.73. Following the completion of the transaction, the chief executive officer now directly owns 237,957 shares in the company, valued at approximately $43,734,117.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 37,680 shares of Home Depot stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $186.26, for a total value of $7,018,276.80. Following the transaction, the executive vice president now owns 53,459 shares of the company’s stock, valued at $9,957,273.34. The disclosure for this sale can be found here. Insiders have sold a total of 169,027 shares of company stock valued at $31,220,882 over the last 90 days. Insiders own 0.26% of the company’s stock.
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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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