First Business Financial Services Inc. trimmed its position in shares of Home Depot, Inc. (The) (NYSE:HD) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,668 shares of the home improvement retailer’s stock after selling 87 shares during the quarter. Home Depot comprises about 0.1% of First Business Financial Services Inc.’s holdings, making the stock its 20th biggest holding. First Business Financial Services Inc.’s holdings in Home Depot were worth $716,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. IFP Advisors Inc boosted its holdings in shares of Home Depot by 3.0% during the 2nd quarter. IFP Advisors Inc now owns 73,631 shares of the home improvement retailer’s stock valued at $11,295,000 after acquiring an additional 2,133 shares during the last quarter. Smithfield Trust Co. lifted its stake in shares of Home Depot by 0.3% in the 2nd quarter. Smithfield Trust Co. now owns 8,387 shares of the home improvement retailer’s stock worth $1,287,000 after purchasing an additional 25 shares during the period. Quantitative Systematic Strategies LLC lifted its stake in shares of Home Depot by 12.2% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 19,718 shares of the home improvement retailer’s stock worth $3,001,000 after purchasing an additional 2,139 shares during the period. BP PLC lifted its stake in shares of Home Depot by 16.2% in the 2nd quarter. BP PLC now owns 179,000 shares of the home improvement retailer’s stock worth $27,459,000 after purchasing an additional 25,000 shares during the period. Finally, Karp Capital Management Corp bought a new position in shares of Home Depot in the 1st quarter worth approximately $99,739,000. 70.37% of the stock is currently owned by institutional investors.
Home Depot, Inc. (HD) traded down $3.19 during midday trading on Wednesday, reaching $179.66. 2,550,142 shares of the company’s stock were exchanged, compared to its average volume of 4,448,647. Home Depot, Inc. has a 12 month low of $128.68 and a 12 month high of $186.31. The company has a market cap of $215,916.78, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.87 and a beta of 1.11. 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 announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 6th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes 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 board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is currently 49.44%.
In other Home Depot news, EVP Matt Carey sold 32,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $157.10, for a total transaction of $5,027,200.00. Following the completion of the sale, the executive vice president now directly owns 62,483 shares of the company’s stock, valued at approximately $9,816,079.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $167.00 price objective on the stock in a research note on Thursday, August 24th. Telsey Advisory Group increased their price objective on shares of Home Depot from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday. Robert W. Baird reiterated an “outperform” rating and issued a $195.00 price objective on shares of Home Depot in a research note on Thursday, November 30th. Bank of America increased their price objective on shares of Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Finally, Longbow Research reiterated a “buy” rating and issued a $175.00 price objective on shares of Home Depot in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $177.22.
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About 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 serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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