Alps Advisors Inc. Raises Holdings in The Home Depot (HD)
Alps Advisors Inc. raised its stake in The Home Depot (NYSE:HD) by 66.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,108 shares of the home improvement retailer’s stock after purchasing an additional 3,246 shares during the period. Alps Advisors Inc.’s holdings in The Home Depot were worth $1,537,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of HD. Wela Strategies Inc. bought a new position in shares of The Home Depot during the 2nd quarter worth about $217,000. Beach Investment Management LLC. lifted its holdings in shares of The 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 during the period. Capital Advisors Inc. OK lifted its holdings in shares of The Home Depot by 0.5% during the 2nd quarter. Capital Advisors Inc. OK now owns 17,544 shares of the home improvement retailer’s stock worth $2,691,000 after acquiring an additional 95 shares during the period. Autus Asset Management LLC lifted its holdings in shares of The Home Depot by 2.5% during the 2nd quarter. Autus Asset Management LLC now owns 2,197 shares of the home improvement retailer’s stock worth $337,000 after acquiring an additional 54 shares during the period. Finally, Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of The Home Depot by 6.4% during the 2nd quarter. Gerber Kawasaki Wealth & Investment Management now owns 7,075 shares of the home improvement retailer’s stock worth $1,069,000 after acquiring an additional 425 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on HD. Wedbush reaffirmed a “hold” rating and set a $190.00 price objective (up from $170.00) on shares of The Home Depot in a report on Wednesday, February 21st. Argus reiterated a “buy” rating and set a $215.00 target price (up previously from $190.00) on shares of The Home Depot in a research report on Wednesday, February 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $220.00 target price (up previously from $190.00) on shares of The Home Depot in a research report on Friday, January 19th. Jefferies Group reiterated a “buy” rating and set a $223.00 target price on shares of The Home Depot in a research report on Monday, February 5th. Finally, BMO Capital Markets increased their target price on shares of The Home Depot from $191.00 to $213.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $194.45.
The Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.07. The company had revenue of $23.88 billion for the quarter, compared to analyst estimates of $23.65 billion. The Home Depot had a net margin of 8.55% and a return on equity of 306.73%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. equities research analysts forecast that The Home Depot will post 9.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, March 7th. This is a positive change from The Home Depot’s previous quarterly dividend of $0.89. The Home Depot’s dividend payout ratio (DPR) is 55.23%.
In other The Home Depot news, Director Gregory D. Brenneman bought 16,827 shares of The Home Depot stock in a transaction dated Wednesday, March 21st. The shares were bought at an average price of $178.29 per share, with a total value of $3,000,085.83. Following the purchase, the director now owns 46,332 shares of the company’s stock, valued at $8,260,532.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 37,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $186.26, for a total transaction of $7,018,276.80. Following the completion of the transaction, the executive vice president now directly owns 53,459 shares in the company, valued at approximately $9,957,273.34. The disclosure for this sale can be found here. Insiders sold a total of 169,027 shares of company stock worth $31,220,882 in the last ninety days. Insiders own 0.25% of the company’s stock.
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The 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 décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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