Palo Capital Inc. cut its position in shares of Home Depot Inc (NYSE:HD) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,645 shares of the home improvement retailer’s stock after selling 157 shares during the period. Home Depot makes up 1.6% of Palo Capital Inc.’s portfolio, making the stock its 16th largest holding. Palo Capital Inc.’s holdings in Home Depot were worth $3,719,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Waldron Private Wealth LLC increased its stake in Home Depot by 2.7% during the 3rd quarter. Waldron Private Wealth LLC now owns 2,308 shares of the home improvement retailer’s stock valued at $478,000 after purchasing an additional 60 shares in the last quarter. Peterson Wealth Advisors LLC increased its stake in Home Depot by 4.3% during the 4th quarter. Peterson Wealth Advisors LLC now owns 1,458 shares of the home improvement retailer’s stock valued at $250,000 after purchasing an additional 60 shares in the last quarter. Cedar Capital LLC boosted its holdings in shares of Home Depot by 2.3% in the 4th quarter. Cedar Capital LLC now owns 2,722 shares of the home improvement retailer’s stock valued at $468,000 after acquiring an additional 60 shares during the last quarter. Berkshire Asset Management LLC PA boosted its holdings in shares of Home Depot by 0.8% in the 4th quarter. Berkshire Asset Management LLC PA now owns 7,447 shares of the home improvement retailer’s stock valued at $1,280,000 after acquiring an additional 62 shares during the last quarter. Finally, Fayerweather Charles boosted its holdings in shares of Home Depot by 1.3% in the 4th quarter. Fayerweather Charles now owns 5,211 shares of the home improvement retailer’s stock valued at $896,000 after acquiring an additional 65 shares during the last quarter. 70.93% of the stock is owned by institutional investors.
Shares of NYSE HD traded down $2.54 during mid-day trading on Wednesday, reaching $188.91. The company’s stock had a trading volume of 5,472,239 shares, compared to its average volume of 4,308,302. The stock has a market capitalization of $212.59 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a quick ratio of 0.28, a current ratio of 1.11 and a debt-to-equity ratio of 17.68. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $215.43.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 21st. The home improvement retailer reported $2.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.10. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. The business had revenue of $26.38 billion during the quarter, compared to analysts’ expectations of $26.34 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that Home Depot Inc will post 10.08 EPS for the current year.
Home Depot declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 26th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to reacquire up to 6.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several analysts have recently commented on HD shares. Edward Jones raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. DZ Bank downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Zacks Investment Research downgraded shares of Home Depot from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $192.00 price objective on shares of Home Depot in a report on Wednesday, May 1st. Finally, Royal Bank of Canada lowered their price target on shares of Home Depot from $223.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Home Depot has an average rating of “Buy” and a consensus price target of $205.29.
In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the transaction, the executive vice president now owns 86,813 shares of the company’s stock, valued at $15,880,702.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Holifield sold 12,000 shares of the stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $183.60, for a total transaction of $2,203,200.00. Following the transaction, the executive vice president now directly owns 39,794 shares of the company’s stock, valued at approximately $7,306,178.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,194 shares of company stock valued at $7,553,141. 0.27% of the stock is owned by company insiders.
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Home Depot 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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