Balyasny Asset Management LLC raised its stake in Home Depot, Inc. (The) (NYSE:HD) by 753.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 123,012 shares of the home improvement retailer’s stock after buying an additional 108,599 shares during the period. Balyasny Asset Management LLC’s holdings in Home Depot were worth $18,870,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Home Depot by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after buying an additional 703,292 shares during the last quarter. Northern Trust Corp grew its position in shares of Home Depot by 1.3% in the 2nd quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after buying an additional 222,958 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Home Depot by 1.1% in the 2nd quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock valued at $1,231,485,000 after buying an additional 84,750 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Home Depot by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 7,890,301 shares of the home improvement retailer’s stock valued at $1,158,533,000 after buying an additional 140,221 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Home Depot by 14.4% in the 2nd quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock valued at $930,903,000 after buying an additional 761,586 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.
Home Depot, Inc. (NYSE:HD) traded down $1.42 during mid-day trading on Monday, reaching $181.99. The company had a trading volume of 1,910,362 shares, compared to its average volume of 4,466,046. Home Depot, Inc. has a fifty-two week low of $131.10 and a fifty-two week high of $186.31. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. The firm has a market cap of $214,176.86, a P/E ratio of 25.47, a P/E/G ratio of 1.86 and a beta of 1.11.
Home Depot declared that its board has authorized a share repurchase program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is currently 49.44%.
A number of equities research analysts have commented on the company. Moffett Nathanson assumed coverage on Home Depot in a research report on Monday, December 4th. They issued a “buy” rating on the stock. Morgan Stanley set a $185.00 target price on Home Depot and gave the company a “buy” rating in a research report on Friday. Oppenheimer restated a “buy” rating on shares of Home Depot in a research report on Thursday. Deutsche Bank upped their target price on Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Zelman & Associates lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $182.06.
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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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