Creative Planning lifted its stake in shares of Home Depot Inc (NYSE:HD) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 263,767 shares of the home improvement retailer’s stock after buying an additional 8,980 shares during the quarter. Creative Planning’s holdings in Home Depot were worth $49,992,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of HD. Sicart Associates LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $227,000. City Holding Co. increased its holdings in shares of Home Depot by 8.3% in the 4th quarter. City Holding Co. now owns 14,749 shares of the home improvement retailer’s stock valued at $2,795,000 after acquiring an additional 1,131 shares during the period. National Pension Service increased its holdings in shares of 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 acquiring an additional 11,847 shares during the period. Asset Dedication LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $2,237,000. Finally, E&G Advisors LP increased its holdings in shares of 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 acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 70.63% of the company’s stock.
In related news, EVP Ann Marie Campbell sold 37,680 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $186.26, for a total value of $7,018,276.80. Following the sale, the executive vice president now directly owns 53,459 shares in the company, valued at approximately $9,957,273.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig A. Menear sold 113,687 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 237,957 shares in the company, valued at $43,734,117.03. The disclosure for this sale can be found here. Insiders sold a total of 169,027 shares of company stock worth $31,220,882 over the last quarter. Insiders own 0.26% of the company’s stock.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.07. Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The business had revenue of $23.88 billion for the quarter, compared to analysts’ expectations of $23.65 billion. During the same period in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. research analysts predict that Home Depot Inc will post 9.44 earnings per share for the current year.
Home Depot announced that its board has approved a stock repurchase program 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm 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 $1.03 dividend. The ex-dividend date of this dividend is Wednesday, March 7th. This is a positive change from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.31%. Home Depot’s payout ratio is currently 55.68%.
A number of equities analysts have recently commented on the stock. Deutsche Bank lifted their target price on shares of Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Argus boosted their price objective on shares of Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Telsey Advisory Group reissued an “outperform” rating and issued a $220.00 price objective (up from $190.00) on shares of Home Depot in a research note on Friday, January 19th. Wedbush reissued a “hold” rating and issued a $190.00 price objective (up from $170.00) on shares of Home Depot in a research note on Wednesday, February 21st. Finally, Atlantic Securities raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $174.16 to $174.95 in a research note on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Home Depot currently has a consensus rating of “Buy” and an average target price of $193.15.
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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