Bailard Inc. increased its stake in shares of The Home Depot Inc. (NYSE:HD) by 1,388.6% during the second quarter, Holdings Channel reports. The institutional investor owned 35,816 shares of the home improvement retailer’s stock after buying an additional 33,410 shares during the period. Bailard Inc.’s holdings in The Home Depot were worth $4,573,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in HD. Bank of Montreal Can acquired a new stake in shares of The Home Depot during the second quarter worth approximately $337,042,000. Emerald Acquisition Ltd. acquired a new stake in shares of The Home Depot during the second quarter worth approximately $198,627,000. Jennison Associates LLC raised its stake in shares of 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 worth $1,015,650,000 after buying an additional 1,483,893 shares during the period. Marsico Capital Management LLC raised its stake in shares of 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 worth $199,055,000 after buying an additional 1,280,239 shares during the period. Finally, Capital Fund Management S.A. raised its stake in shares of 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 worth $133,905,000 after buying an additional 1,015,841 shares during the period. Institutional investors own 71.86% of the company’s stock.
Shares of The Home Depot Inc. (NYSE:HD) traded down 0.12% during mid-day trading on Thursday, reaching $128.12. The company’s stock had a trading volume of 3,965,432 shares. The stock has a market capitalization of $158.30 billion, a P/E ratio of 21.69 and a beta of 0.91. The Home Depot Inc. has a 12-month low of $109.62 and a 12-month high of $139.00. The company’s 50-day moving average price is $131.89 and its 200-day moving average price is $132.66.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $1.97 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.97. The business had revenue of $26.47 billion for the quarter, compared to analyst estimates of $26.47 billion. The Home Depot had a return on equity of 110.52% and a net margin of 8.08%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.71 earnings per share. On average, equities research analysts forecast that The Home Depot Inc. will post $6.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, August 30th. The Home Depot’s dividend payout ratio is presently 46.54%.
HD has been the subject of a number of recent research reports. Vetr lowered shares of The Home Depot from a “buy” rating to a “hold” rating and set a $135.32 price target for the company. in a research note on Monday, July 11th. Jefferies Group reaffirmed a “buy” rating on shares of The Home Depot in a report on Sunday, July 3rd. Zacks Investment Research downgraded shares of The Home Depot from a “buy” rating to a “sell” rating in a report on Tuesday, July 19th. Deutsche Bank AG reaffirmed a “buy” rating and set a $143.00 price objective on shares of The Home Depot in a report on Friday, June 17th. Finally, Argus reaffirmed a “hold” rating and set a $154.00 price objective on shares of The Home Depot in a report on Friday, September 16th. Seven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $147.36.
In other news, CFO Carol B. Tome sold 97,610 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $135.35, for a total value of $13,211,513.50. Following the sale, the chief financial officer now owns 644,831 shares in the company, valued at $87,277,875.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy M. Crow sold 49,392 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $135.06, for a total value of $6,670,883.52. Following the completion of the sale, the executive vice president now owns 224,905 shares in the company, valued at approximately $30,375,669.30. The disclosure for this sale can be found here. 0.26% of the stock is owned by 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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