Covington Capital Management lifted its position in shares of Home Depot, Inc. (The) (NYSE:HD) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,107 shares of the home improvement retailer’s stock after buying an additional 829 shares during the period. Home Depot makes up about 1.2% of Covington Capital Management’s holdings, making the stock its 25th biggest holding. Covington Capital Management’s holdings in Home Depot were worth $14,743,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new stake in Home Depot in the 1st quarter valued at $100,000. Jacobi Capital Management LLC increased its holdings in Home Depot by 16.4% in the 2nd quarter. Jacobi Capital Management LLC now owns 717 shares of the home improvement retailer’s stock valued at $108,000 after purchasing an additional 101 shares in the last quarter. Glassman Wealth Services increased its holdings in Home Depot by 38.3% in the 2nd quarter. Glassman Wealth Services now owns 1,084 shares of the home improvement retailer’s stock valued at $166,000 after purchasing an additional 300 shares in the last quarter. St. Johns Investment Management Company LLC increased its holdings in Home Depot by 81.8% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 1,100 shares of the home improvement retailer’s stock valued at $169,000 after purchasing an additional 495 shares in the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in Home Depot by 0.6% in the 2nd quarter. Mascoma Wealth Management LLC now owns 1,143 shares of the home improvement retailer’s stock valued at $175,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.
Several analysts recently issued reports on HD shares. BTIG Research reiterated a “buy” rating and issued a $175.00 price target on shares of Home Depot in a report on Tuesday, August 15th. Credit Suisse Group set a $171.00 price target on Home Depot and gave the company a “buy” rating in a report on Tuesday, August 15th. Robert W. Baird set a $175.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research report on Tuesday, August 15th. Oppenheimer set a $178.00 price objective on shares of Home Depot and gave the company a “buy” rating in a research report on Tuesday, August 15th. Finally, UBS reissued a “buy” rating and issued a $175.00 price objective on shares of Home Depot in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $182.06.
Shares of Home Depot, Inc. (HD) traded up $0.93 during mid-day trading on Wednesday, hitting $182.73. 365,890 shares of the stock traded hands, compared to its average volume of 4,476,013. The company has a quick ratio of 0.39, a current ratio of 1.23 and a debt-to-equity ratio of 9.54. Home Depot, Inc. has a twelve month low of $133.05 and a twelve month high of $186.31. The company has a market capitalization of $212,822.27, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The business had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.53 billion. During the same quarter last year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. equities research analysts expect that Home Depot, Inc. will post 7.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.56 annualized dividend and a dividend yield of 1.95%. Home Depot’s payout ratio is 49.44%.
Home Depot announced that its board has authorized a stock repurchase program on Wednesday, December 6th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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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