CHURCHILL MANAGEMENT Corp Decreases Holdings in Home Depot Inc (HD)

CHURCHILL MANAGEMENT Corp reduced its position in shares of Home Depot Inc (NYSE:HD) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,423 shares of the home improvement retailer’s stock after selling 6,146 shares during the period. Home Depot accounts for about 1.2% of CHURCHILL MANAGEMENT Corp’s investment portfolio, making the stock its 9th largest position. CHURCHILL MANAGEMENT Corp’s holdings in Home Depot were worth $28,079,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HD. First Citizens Bank & Trust Co. lifted its holdings in shares of Home Depot by 22.5% during the 4th quarter. First Citizens Bank & Trust Co. now owns 44,170 shares of the home improvement retailer’s stock worth $7,589,000 after acquiring an additional 8,103 shares during the period. Broadleaf Partners LLC lifted its holdings in shares of Home Depot by 14.4% during the 4th quarter. Broadleaf Partners LLC now owns 19,568 shares of the home improvement retailer’s stock worth $3,362,000 after acquiring an additional 2,469 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Home Depot during the 4th quarter worth about $282,000. Dubuque Bank & Trust Co. lifted its holdings in shares of Home Depot by 11.0% during the 4th quarter. Dubuque Bank & Trust Co. now owns 42,795 shares of the home improvement retailer’s stock worth $7,353,000 after acquiring an additional 4,258 shares during the period. Finally, Monument Capital Management lifted its holdings in shares of Home Depot by 8.4% during the 4th quarter. Monument Capital Management now owns 12,179 shares of the home improvement retailer’s stock worth $2,093,000 after acquiring an additional 940 shares during the period. 68.22% of the stock is currently owned by institutional investors.

NYSE HD opened at $182.23 on Friday. Home Depot Inc has a one year low of $158.09 and a one year high of $215.43. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.11. The company has a market capitalization of $205.83 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.09.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.09. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. The firm had revenue of $26.49 billion for the quarter, compared to analyst estimates of $26.57 billion. During the same quarter last year, the firm posted $1.69 earnings per share. Home Depot’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts predict that Home Depot Inc will post 10.08 EPS for the current year.

Home Depot announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 26th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be issued a $1.36 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $1.03. The ex-dividend date is Wednesday, March 13th. This represents a $5.44 annualized dividend and a yield of 2.99%. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.

In other Home Depot news, EVP Mark Holifield sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the sale, the executive vice president now owns 39,794 shares of the company’s stock, valued at $7,306,178.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward P. Decker sold 23,744 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the sale, the executive vice president now directly owns 86,813 shares of the company’s stock, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. Insiders sold 41,194 shares of company stock worth $7,553,141 in the last 90 days. 0.25% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on the stock. DZ Bank lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Wedbush cut their price objective on shares of Home Depot from $190.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 27th. Credit Suisse Group cut their price objective on shares of Home Depot from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday, February 27th. Deutsche Bank increased their price objective on shares of Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, Telsey Advisory Group lowered shares of Home Depot from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $205.00 to $192.00 in a report on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $203.41.

WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another site, it was illegally copied and reposted in violation of US and international copyright legislation. The correct version of this article can be read at https://www.americanbankingnews.com/2019/03/17/churchill-management-corp-decreases-holdings-in-home-depot-inc-hd.html.

Home Depot Company Profile

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.

Read More: Buy-Side Analysts

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).

Institutional Ownership by Quarter for Home Depot (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.



Leave a Reply