Cortland Associates Inc. MO bought a new stake in The Home Depot, Inc. (NYSE:HD) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 747 shares of the home improvement retailer’s stock, valued at approximately $228,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Mountain Capital Investment Advisors Inc acquired a new position in shares of The Home Depot in the fourth quarter valued at $222,000. Douglas Lane & Associates LLC raised its stake in The Home Depot by 3.4% during the fourth quarter. Douglas Lane & Associates LLC now owns 42,226 shares of the home improvement retailer’s stock worth $11,216,000 after acquiring an additional 1,401 shares in the last quarter. James Hambro & Partners grew its holdings in shares of The Home Depot by 229.1% during the fourth quarter. James Hambro & Partners now owns 3,110 shares of the home improvement retailer’s stock worth $826,000 after purchasing an additional 2,165 shares during the last quarter. Breiter Capital Management Inc. grew its holdings in shares of The Home Depot by 2.2% during the fourth quarter. Breiter Capital Management Inc. now owns 11,308 shares of the home improvement retailer’s stock worth $3,004,000 after purchasing an additional 245 shares during the last quarter. Finally, Ardevora Asset Management LLP grew its holdings in shares of The Home Depot by 3.5% during the fourth quarter. Ardevora Asset Management LLP now owns 198,947 shares of the home improvement retailer’s stock worth $52,844,000 after purchasing an additional 6,800 shares during the last quarter. Institutional investors and hedge funds own 68.71% of the company’s stock.
Several analysts have recently commented on HD shares. JPMorgan Chase & Co. increased their target price on The Home Depot from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. Raymond James raised their price target on The Home Depot from $305.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup raised their price target on The Home Depot from $288.00 to $375.00 in a report on Tuesday, May 4th. Morgan Stanley raised their price target on The Home Depot from $320.00 to $340.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group raised their target price on The Home Depot from $325.00 to $374.00 and gave the stock a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The Home Depot currently has an average rating of “Buy” and a consensus price target of $314.68.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Monday, February 22nd. The home improvement retailer reported $2.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.63 by $0.02. The firm had revenue of $32.26 billion during the quarter, compared to analysts’ expectations of $27.10 billion. The Home Depot had a negative return on equity of 910.85% and a net margin of 9.94%. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.28 EPS. Analysts predict that The Home Depot, Inc. will post 11.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, March 11th were issued a $1.65 dividend. The ex-dividend date of this dividend was Wednesday, March 10th. This is a boost from The Home Depot’s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a yield of 2.04%. The Home Depot’s payout ratio is currently 64.39%.
About The 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, building materials, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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