Kanawha Capital Management LLC increased its holdings in Home Depot Inc (NYSE:HD) by 14.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,716 shares of the home improvement retailer’s stock after acquiring an additional 3,700 shares during the quarter. Kanawha Capital Management LLC’s holdings in Home Depot were worth $5,602,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Lucia Wealth Services LLC acquired a new position in Home Depot in the 1st quarter worth approximately $101,000. Earnest Partners LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $108,000. Institutional & Family Asset Management LLC purchased a new position in shares of Home Depot during the 1st quarter valued at approximately $108,000. Clarus Wealth Advisors purchased a new position in shares of Home Depot during the 2nd quarter valued at approximately $136,000. Finally, Princeton Capital Management LLC purchased a new position in shares of Home Depot during the 1st quarter valued at approximately $151,000. 69.01% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Wells Fargo & Co reiterated a “buy” rating and set a $230.00 target price on shares of Home Depot in a research report on Sunday, September 16th. Zacks Investment Research lowered Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, August 21st. They issued a “buy” rating and a $228.00 price objective for the company. UBS Group lifted their price objective on Home Depot from $212.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, June 20th. Finally, Citigroup boosted their price objective on Home Depot from $205.00 to $220.00 and gave the company a “positive” rating in a research note on Friday, August 10th. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Home Depot has a consensus rating of “Buy” and an average target price of $207.40.
In related news, EVP William G. Lennie sold 10,854 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $201.64, for a total value of $2,188,600.56. Following the sale, the executive vice president now owns 40,057 shares of the company’s stock, valued at approximately $8,077,093.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matt Carey sold 4,125 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $195.43, for a total value of $806,148.75. Following the completion of the sale, the executive vice president now directly owns 60,179 shares in the company, valued at approximately $11,760,781.97. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
Home Depot stock traded up $2.73 during trading hours on Friday, hitting $192.47. The stock had a trading volume of 5,354,002 shares, compared to its average volume of 4,627,644. The company has a debt-to-equity ratio of 11.60, a quick ratio of 0.37 and a current ratio of 1.13. Home Depot Inc has a 1-year low of $160.53 and a 1-year high of $215.43. The firm has a market capitalization of $237.01 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 1.63 and a beta of 1.11.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.21. Home Depot had a return on equity of 522.68% and a net margin of 9.45%. The firm had revenue of $30.46 billion for the quarter, compared to the consensus estimate of $30.04 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Home Depot Inc will post 9.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 13th. Investors of record on Thursday, August 30th were given a dividend of $1.03 per share. The ex-dividend date was Wednesday, August 29th. This represents a $4.12 annualized dividend and a yield of 2.14%. Home Depot’s dividend payout ratio (DPR) is presently 55.23%.
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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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