Smead Capital Management Inc. cut its stake in The Home Depot Inc. (NYSE:HD) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 630,830 shares of the home improvement retailer’s stock after selling 38,196 shares during the period. The Home Depot makes up approximately 3.8% of Smead Capital Management Inc.’s portfolio, making the stock its 15th largest position. Smead Capital Management Inc. owned approximately 0.05% of The Home Depot worth $80,551,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of The Home Depot during the second quarter valued at about $337,042,000. Emerald Acquisition Ltd. bought a new position in The Home Depot during the second quarter valued at $198,627,000. Jennison Associates LLC boosted its position in The Home Depot by 22.9% in the second quarter. Jennison Associates LLC now owns 7,954,031 shares of the home improvement retailer’s stock valued at $1,015,650,000 after buying an additional 1,483,893 shares during the last quarter. Marsico Capital Management LLC boosted its position in The Home Depot by 605.0% in the first quarter. Marsico Capital Management LLC now owns 1,491,833 shares of the home improvement retailer’s stock valued at $199,055,000 after buying an additional 1,280,239 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its position in The Home Depot by 3,094.3% in the second quarter. Capital Fund Management S.A. now owns 1,048,670 shares of the home improvement retailer’s stock valued at $133,905,000 after buying an additional 1,015,841 shares during the last quarter. Hedge funds and other institutional investors own 71.86% of the company’s stock.
Shares of The Home Depot Inc. (NYSE:HD) traded up 1.01% during midday trading on Wednesday, hitting $128.11. 5,350,554 shares of the stock traded hands. The company’s 50 day moving average price is $133.44 and its 200-day moving average price is $132.66. The Home Depot Inc. has a 12-month low of $109.62 and a 12-month high of $139.00. The stock has a market cap of $158.29 billion, a price-to-earnings ratio of 21.68 and a beta of 0.91.
The Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, meeting the consensus estimate of $1.97. The firm earned $26.47 billion during the quarter, compared to analyst estimates of $26.47 billion. The Home Depot had a net margin of 8.08% and a return on equity of 110.52%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.71 EPS. On average, equities research analysts expect that The Home Depot Inc. will post $6.33 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 2.15%. The ex-dividend date was Tuesday, August 30th. The Home Depot’s payout ratio is presently 46.54%.
Several research firms have recently weighed in on HD. BTIG Research began coverage on shares of The Home Depot in a report on Wednesday, June 1st. They set a “buy” rating and a $155.00 price objective for the company. Zacks Investment Research cut shares of The Home Depot from a “buy” rating to a “hold” rating in a report on Thursday, August 18th. Nomura reissued an “in-line” rating and set a $155.00 price objective on shares of The Home Depot in a report on Wednesday, August 17th. RBC Capital Markets reissued an “outperform” rating and set a $155.00 price objective (up from $150.00) on shares of The Home Depot in a report on Wednesday, August 17th. Finally, Vetr raised shares of The Home Depot from a “buy” rating to a “strong-buy” rating and set a $148.82 price objective for the company in a report on Wednesday, June 1st. Seven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $147.36.
In related news, CFO Carol B. Tome sold 97,610 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $135.35, for a total value of $13,211,513.50. Following the completion of the sale, the chief financial officer now owns 644,831 shares of the company’s stock, valued at approximately $87,277,875.85. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Timothy M. Crow sold 49,392 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $135.06, for a total transaction of $6,670,883.52. Following the completion of the sale, the executive vice president now directly owns 224,905 shares of the company’s stock, valued at approximately $30,375,669.30. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
About The 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 serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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