Ameriprise Financial Inc. Increases Stake in The Home Depot Inc. (HD)
Ameriprise Financial Inc. boosted its stake in The Home Depot Inc. (NYSE:HD) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,571,292 shares of the home improvement retailer’s stock after buying an additional 242,842 shares during the period. The Home Depot makes up about 0.6% of Ameriprise Financial Inc.’s holdings, making the stock its 29th largest position. Ameriprise Financial Inc. owned about 0.69% of The Home Depot worth $1,094,130,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Honeywell International Inc. raised its stake in The Home Depot by 0.4% in the second quarter. Honeywell International Inc. now owns 448,036 shares of the home improvement retailer’s stock worth $57,210,000 after buying an additional 2,000 shares in the last quarter. Gerstein Fisher raised its stake in The Home Depot by 8.1% in the second quarter. Gerstein Fisher now owns 60,198 shares of the home improvement retailer’s stock worth $7,687,000 after buying an additional 4,505 shares in the last quarter. Kidder Stephen W raised its stake in The Home Depot by 0.8% in the second quarter. Kidder Stephen W now owns 52,254 shares of the home improvement retailer’s stock worth $6,672,000 after buying an additional 400 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of The Home Depot by 50.5% in the second quarter. Ropes Wealth Advisors LLC now owns 23,826 shares of the home improvement retailer’s stock valued at $3,042,000 after buying an additional 7,994 shares during the period. Finally, Schnieders Capital Management LLC raised its stake in shares of The Home Depot by 0.7% in the second quarter. Schnieders Capital Management LLC now owns 11,516 shares of the home improvement retailer’s stock valued at $1,470,000 after buying an additional 85 shares during the period. 71.86% of the stock is currently owned by hedge funds and other institutional investors.
The Home Depot Inc. (NYSE:HD) traded down 0.02% during midday trading on Wednesday, reaching $128.17. The company’s stock had a trading volume of 1,736,876 shares. The stock’s 50-day moving average price is $130.94 and its 200-day moving average price is $132.62. The firm has a market capitalization of $158.36 billion, a price-to-earnings ratio of 21.69 and a beta of 0.97. The Home Depot Inc. has a 12 month low of $109.62 and a 12 month high of $139.00.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $1.97 EPS for the quarter, meeting analysts’ consensus estimates of $1.97. The Home Depot had a return on equity of 110.52% and a net margin of 8.08%. The company earned $26.47 billion during the quarter, compared to the consensus estimate of $26.47 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts predict that The Home Depot Inc. will post $6.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.15%. The Home Depot’s dividend payout ratio (DPR) is presently 46.54%.
A number of research analysts recently issued reports on HD shares. Nomura upgraded The Home Depot from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a research note on Thursday, June 23rd. Zacks Investment Research downgraded The Home Depot from a “buy” rating to a “sell” rating in a research note on Tuesday, July 19th. RBC Capital Markets restated an “outperform” rating and set a $155.00 price target (up previously from $150.00) on shares of The Home Depot in a research note on Wednesday, August 17th. Citigroup Inc. raised their price target on The Home Depot from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Finally, Jefferies Group restated a “buy” rating and set a $156.00 price target on shares of The Home Depot in a research note on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $146.86.
In other news, EVP Teresa Wynn Roseborough sold 11,671 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $136.03, for a total value of $1,587,606.13. Following the completion of the sale, the executive vice president now owns 44,107 shares in the company, valued at $5,999,875.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Carol B. Tome sold 97,610 shares of the stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $135.35, for a total value of $13,211,513.50. Following the completion of the sale, the chief financial officer now owns 644,831 shares of the company’s stock, valued at approximately $87,277,875.85. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
About The Home Depot
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 serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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