Manning & Napier Group LLC Has $33.48 Million Position in Home Depot Inc (HD)

Manning & Napier Group LLC raised its holdings in shares of Home Depot Inc (NYSE:HD) by 8.3% during the 4th quarter, HoldingsChannel reports. The fund owned 194,867 shares of the home improvement retailer’s stock after purchasing an additional 14,854 shares during the period. Manning & Napier Group LLC’s holdings in Home Depot were worth $33,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Waldron Private Wealth LLC raised its position in shares of Home Depot by 2.7% during the third quarter. Waldron Private Wealth LLC now owns 2,308 shares of the home improvement retailer’s stock worth $478,000 after purchasing an additional 60 shares during the period. Cohen Lawrence B lifted its holdings in shares of Home Depot by 4.6% during the fourth quarter. Cohen Lawrence B now owns 1,658 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 73 shares during the last quarter. DeDora Capital Inc. lifted its holdings in shares of Home Depot by 0.7% during the fourth quarter. DeDora Capital Inc. now owns 9,844 shares of the home improvement retailer’s stock valued at $1,691,000 after purchasing an additional 73 shares during the last quarter. Watch Point Trust Co boosted its position in shares of Home Depot by 1.2% in the 4th quarter. Watch Point Trust Co now owns 6,031 shares of the home improvement retailer’s stock valued at $1,037,000 after purchasing an additional 73 shares during the period. Finally, Chesley Taft & Associates LLC boosted its position in shares of Home Depot by 0.3% in the 4th quarter. Chesley Taft & Associates LLC now owns 22,790 shares of the home improvement retailer’s stock valued at $3,916,000 after purchasing an additional 79 shares during the period. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE HD opened at $202.06 on Friday. Home Depot Inc has a one year low of $158.09 and a one year high of $215.43. The stock has a market cap of $221.28 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09. The company has a debt-to-equity ratio of 17.68, a current ratio of 1.11 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.09. The company had revenue of $26.49 billion for the quarter, compared to analysts’ expectations of $26.57 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.69 EPS. Equities analysts expect that Home Depot Inc will post 10.08 EPS for the current year.

Home Depot declared that its board has authorized a share buyback program on Tuesday, February 26th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to purchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $1.36 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $1.03. This represents a $5.44 dividend on an annualized basis and a yield of 2.69%. Home Depot’s payout ratio is presently 55.01%.

In other Home Depot news, EVP Ann Marie Campbell sold 5,450 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the completion of the sale, the executive vice president now owns 51,030 shares in the company, valued at approximately $9,423,710.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction on 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 sale, the executive vice president now directly owns 86,813 shares of the company’s stock, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,194 shares of company stock worth $7,553,141. Company insiders own 0.25% of the company’s stock.

Several analysts have issued reports on HD shares. Citigroup cut their price objective on Home Depot from $224.00 to $218.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Evercore ISI began coverage on shares of Home Depot in a research note on Wednesday, March 20th. They set an “outperform” rating and a $215.00 price objective for the company. DZ Bank cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Wedbush dropped their target price on shares of Home Depot from $190.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 27th. Finally, Credit Suisse Group dropped their target price on shares of Home Depot from $194.00 to $192.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 27th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $203.61.

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About Home Depot

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.

Further Reading: Are sell-side analysts objective?

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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