Palo Capital Inc. Has $2.99 Million Holdings in Home Depot Inc (HD)
Palo Capital Inc. raised its stake in Home Depot Inc (NYSE:HD) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,798 shares of the home improvement retailer’s stock after buying an additional 2,724 shares during the quarter. Home Depot makes up approximately 1.3% of Palo Capital Inc.’s investment portfolio, making the stock its 26th largest position. Palo Capital Inc.’s holdings in Home Depot were worth $2,994,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of the business. Wela Strategies Inc. acquired a new position in Home Depot during the 2nd quarter worth about $217,000. Beach Investment Management LLC. lifted its stake in Home Depot by 1,023.1% during the 2nd quarter. Beach Investment Management LLC. now owns 68,511 shares of the home improvement retailer’s stock worth $10,510,000 after acquiring an additional 62,411 shares in the last quarter. First National Trust Co. lifted its stake in Home Depot by 1.9% during the 2nd quarter. First National Trust Co. now owns 65,249 shares of the home improvement retailer’s stock worth $10,009,000 after acquiring an additional 1,219 shares in the last quarter. Aviva PLC lifted its stake in Home Depot by 1.7% during the 2nd quarter. Aviva PLC now owns 1,158,375 shares of the home improvement retailer’s stock worth $177,706,000 after acquiring an additional 19,255 shares in the last quarter. Finally, RFG Advisory Group LLC lifted its stake in Home Depot by 265.9% during the 2nd quarter. RFG Advisory Group LLC now owns 7,083 shares of the home improvement retailer’s stock worth $1,082,000 after acquiring an additional 5,147 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.
Home Depot stock opened at $178.96 on Monday. Home Depot Inc has a 12 month low of $144.25 and a 12 month high of $207.60. The firm has a market capitalization of $208,980.38, a P/E ratio of 24.02, a price-to-earnings-growth ratio of 1.43 and a beta of 1.14. The company has a quick ratio of 0.38, a current ratio of 1.17 and a debt-to-equity ratio of 16.69.
Home Depot announced that its board has authorized a share buyback plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be paid a $1.03 dividend. This is an increase from Home Depot’s previous quarterly dividend of $0.89. This represents a $4.12 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, March 7th. Home Depot’s dividend payout ratio (DPR) is 56.59%.
In related news, EVP Edward P. Decker sold 17,660 shares of Home Depot stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.32, for a total value of $3,308,071.20. Following the sale, the executive vice president now directly owns 73,815 shares in the company, valued at $13,827,025.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Armando M. Codina purchased 6,650 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was acquired at an average price of $178.66 per share, for a total transaction of $1,188,089.00. Following the completion of the purchase, the director now owns 42,300 shares of the company’s stock, valued at $7,557,318. The disclosure for this purchase can be found here. Insiders sold a total of 169,027 shares of company stock worth $31,220,882 over the last quarter. Company insiders own 0.26% of the company’s stock.
Several equities analysts recently issued reports on HD shares. Credit Suisse Group set a $222.00 target price on Home Depot and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Bank of America reissued a “buy” rating and set a $190.60 target price (down previously from $219.00) on shares of Home Depot in a research note on Tuesday, February 20th. Citigroup reissued a “buy” rating and set a $219.00 target price (up previously from $213.00) on shares of Home Depot in a research note on Wednesday, February 21st. Morgan Stanley set a $185.00 target price on Home Depot and gave the stock a “buy” rating in a research note on Friday, December 8th. Finally, BTIG Research increased their target price on Home Depot to $215.00 and gave the stock a “buy” rating in a research note on Thursday, December 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $193.15.
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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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