Gateway Investment Advisers LLC trimmed its holdings in shares of Home Depot Inc (NYSE:HD) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 704,511 shares of the home improvement retailer’s stock after selling 48,100 shares during the period. Home Depot makes up approximately 1.1% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 14th largest holding. Gateway Investment Advisers LLC owned 0.06% of Home Depot worth $133,526,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Home Depot by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after purchasing an additional 703,292 shares during the period. Capital Research Global Investors boosted its position in shares of Home Depot by 0.9% in the 2nd quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock valued at $3,071,943,000 after purchasing an additional 170,139 shares during the period. Northern Trust Corp boosted its position in shares of Home Depot by 1.3% in the 2nd quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after purchasing an additional 222,958 shares during the period. Alliancebernstein L.P. boosted its position in Home Depot by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock worth $1,231,485,000 after acquiring an additional 84,750 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Home Depot by 4.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 6,089,219 shares of the home improvement retailer’s stock worth $995,953,000 after acquiring an additional 249,947 shares during the period. 70.63% of the stock is currently owned by institutional investors.
Home Depot Inc (NYSE HD) opened at $178.35 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 1.17 and a debt-to-equity ratio of 16.69. The company has a market capitalization of $208,270.00, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. Home Depot Inc has a 1 year low of $144.25 and a 1 year high of $207.60.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be given a $1.03 dividend. This is an increase from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, March 7th. Home Depot’s payout ratio is currently 55.68%.
Home Depot announced that its board has initiated a share repurchase plan 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 purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
HD has been the subject of a number of research reports. Credit Suisse Group restated a “hold” rating on shares of Home Depot in a research report on Tuesday, December 12th. Deutsche Bank raised their price objective on Home Depot from $176.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. SunTrust Banks raised their price objective on Home Depot from $167.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, December 7th. Citigroup restated a “buy” rating and set a $213.00 price objective on shares of Home Depot in a research report on Thursday, December 7th. Finally, Bank of America restated a “buy” rating and set a $190.60 price objective (down from $219.00) on shares of Home Depot in a research report on Tuesday, February 20th. One 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 given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $193.15.
In other news, CEO Craig A. Menear sold 113,687 shares of the business’s 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 sale, the chief executive officer now directly owns 237,957 shares in the company, valued at $43,734,117.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Armando M. Codina acquired 6,650 shares of the stock in a transaction dated Friday, March 2nd. The shares were purchased at an average price of $178.66 per share, for a total transaction of $1,188,089.00. Following the completion of the transaction, the director now owns 42,300 shares of the company’s stock, valued at approximately $7,557,318. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 169,027 shares of company stock worth $31,220,882. Company insiders own 0.26% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This story was first published by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/03/14/home-depot-inc-hd-shares-sold-by-gateway-investment-advisers-llc.html.
Home Depot Company 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.
Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.