Founders Capital Management Boosts Stake in Home Depot Inc (HD)

Founders Capital Management grew its position in shares of Home Depot Inc (NYSE:HD) by 21.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 13,510 shares of the home improvement retailer’s stock after acquiring an additional 2,405 shares during the quarter. Home Depot comprises approximately 2.3% of Founders Capital Management’s holdings, making the stock its 16th largest holding. Founders Capital Management’s holdings in Home Depot were worth $2,799,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boenning & Scattergood Inc. lifted its position in Home Depot by 4.5% in the third quarter. Boenning & Scattergood Inc. now owns 24,997 shares of the home improvement retailer’s stock worth $5,179,000 after buying an additional 1,073 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its position in Home Depot by 1.7% in the third quarter. Franklin Street Advisors Inc. NC now owns 37,856 shares of the home improvement retailer’s stock worth $7,842,000 after buying an additional 615 shares during the last quarter. Bath Savings Trust Co lifted its position in Home Depot by 3.5% in the third quarter. Bath Savings Trust Co now owns 19,692 shares of the home improvement retailer’s stock worth $4,079,000 after buying an additional 675 shares during the last quarter. XR Securities LLC bought a new stake in Home Depot in the third quarter worth $828,000. Finally, CENTRAL TRUST Co lifted its position in Home Depot by 0.3% in the third quarter. CENTRAL TRUST Co now owns 146,747 shares of the home improvement retailer’s stock worth $30,398,000 after buying an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 69.52% of the company’s stock.

In other news, Director Manuel Kadre purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, November 14th. The shares were purchased at an average price of $177.48 per share, for a total transaction of $354,960.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at approximately $354,960. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Craig A. Menear sold 117,327 shares of the firm’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $180.42, for a total value of $21,168,137.34. Following the transaction, the chief executive officer now owns 264,970 shares in the company, valued at approximately $47,805,887.40. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 13,750 shares of company stock worth $2,401,470. Insiders own 0.25% of the company’s stock.

Shares of Home Depot stock opened at $180.32 on Monday. The firm has a market cap of $203.68 billion, a PE ratio of 24.17, a PEG ratio of 1.41 and a beta of 1.26. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.09. Home Depot Inc has a 12 month low of $167.00 and a 12 month high of $215.43.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 13th. The home improvement retailer reported $2.51 EPS for the quarter, beating the consensus estimate of $2.27 by $0.24. The firm had revenue of $26.30 billion for the quarter, compared to analyst estimates of $26.23 billion. Home Depot had a return on equity of 664.88% and a net margin of 10.00%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 earnings per share. Sell-side analysts predict that Home Depot Inc will post 9.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 29th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $4.12 annualized dividend and a dividend yield of 2.28%. Home Depot’s dividend payout ratio is currently 55.23%.

A number of analysts have weighed in on the company. Zacks Investment Research upgraded Home Depot from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Citigroup reduced their target price on Home Depot from $227.00 to $226.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Credit Suisse Group reduced their target price on Home Depot from $204.00 to $194.00 and set a “neutral” rating on the stock in a research note on Thursday, November 15th. UBS Group reduced their target price on Home Depot from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Finally, Deutsche Bank reduced their target price on Home Depot from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $205.43.

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About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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