New York State Teachers Retirement System cut its holdings in shares of Home Depot Inc (NYSE:HD) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,993,870 shares of the home improvement retailer’s stock after selling 90,311 shares during the period. Home Depot accounts for approximately 0.8% of New York State Teachers Retirement System’s portfolio, making the stock its 20th biggest holding. New York State Teachers Retirement System’s holdings in Home Depot were worth $326,117,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC lifted its position in Home Depot by 16.4% in the second quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock worth $108,000 after purchasing an additional 101 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in Home Depot by 63.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 876 shares of the home improvement retailer’s stock worth $145,000 after purchasing an additional 340 shares during the period. Glassman Wealth Services lifted its position in Home Depot by 38.3% in the second quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock worth $166,000 after purchasing an additional 300 shares during the period. St. Johns Investment Management Company LLC lifted its position in Home Depot by 81.8% in the second quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock worth $169,000 after purchasing an additional 495 shares during the period. Finally, Mascoma Wealth Management LLC lifted its position in Home Depot by 0.6% in the second quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock worth $175,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 70.13% of the company’s stock.
Shares of Home Depot Inc (HD) opened at $192.50 on Friday. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.39 and a current ratio of 1.23. Home Depot Inc has a one year low of $133.05 and a one year high of $192.54. The stock has a market cap of $224,791.69, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The company had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.53 billion. During the same period in the previous year, the business earned $1.60 EPS. The company’s revenue was up 8.1% on a year-over-year basis. equities research analysts anticipate that Home Depot Inc will post 7.37 earnings per share for the current year.
Home Depot announced that its Board of Directors has initiated a stock 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 repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.85%. The ex-dividend date was Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is currently 49.44%.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the sale, the executive vice president now directly owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.
A number of equities research analysts have weighed in on the company. Deutsche Bank upped their target price on Home Depot from $176.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, December 7th. Zacks Investment Research upgraded Home Depot from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a research report on Monday, September 11th. Argus upped their target price on Home Depot from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Robert W. Baird set a $175.00 target price on Home Depot and gave the stock a “buy” rating in a research report on Friday, October 13th. Finally, Atlantic Securities upgraded Home Depot from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $174.16 to $174.95 in a research report on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot presently has an average rating of “Buy” and a consensus target price of $183.28.
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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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