Excalibur Management Corp Grows Position in Home Depot Inc (HD)
Excalibur Management Corp boosted its holdings in Home Depot Inc (NYSE:HD) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,182 shares of the home improvement retailer’s stock after purchasing an additional 485 shares during the quarter. Excalibur Management Corp’s holdings in Home Depot were worth $547,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in HD. Armbruster Capital Management Inc. increased its position in Home Depot by 29.5% in the 3rd quarter. Armbruster Capital Management Inc. now owns 1,683 shares of the home improvement retailer’s stock valued at $349,000 after buying an additional 383 shares in the last quarter. UMB Bank N A MO increased its position in Home Depot by 1.8% in the 3rd quarter. UMB Bank N A MO now owns 224,493 shares of the home improvement retailer’s stock valued at $46,503,000 after buying an additional 4,066 shares in the last quarter. Highland Associates Inc. bought a new stake in Home Depot in the 3rd quarter valued at about $15,023,000. Allen Capital Group LLC increased its position in Home Depot by 7.4% in the 3rd quarter. Allen Capital Group LLC now owns 5,347 shares of the home improvement retailer’s stock valued at $1,108,000 after buying an additional 368 shares in the last quarter. Finally, Cambridge Trust Co. increased its position in Home Depot by 0.4% in the 3rd quarter. Cambridge Trust Co. now owns 99,319 shares of the home improvement retailer’s stock valued at $20,573,000 after buying an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 70.88% of the company’s stock.
In related news, EVP Edward P. Decker sold 23,744 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total value of $4,343,489.92. Following the transaction, the executive vice president now owns 86,813 shares in the company, valued at $15,880,702.09. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Holifield sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the transaction, the executive vice president now owns 39,794 shares in the company, valued at approximately $7,306,178.40. The disclosure for this sale can be found here. Insiders sold a total of 41,194 shares of company stock worth $7,553,141 in the last 90 days. Company insiders own 0.25% of the company’s stock.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.09. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The firm had revenue of $26.49 billion for the quarter, compared to the consensus estimate of $26.57 billion. During the same quarter in the previous year, the business earned $1.69 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, analysts forecast that Home Depot Inc will post 10.09 EPS for the current fiscal year.
Home Depot declared that its board has approved a stock repurchase plan on Tuesday, February 26th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s payout ratio is presently 55.01%.
HD has been the subject of a number of recent research reports. Citigroup decreased their price objective on Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a report on Monday, April 1st. Zacks Investment Research raised Home Depot from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Monday, December 31st. Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Deutsche Bank boosted their price objective on Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, Credit Suisse Group set a $194.00 price objective on Home Depot and gave the stock a “hold” rating in a report on Tuesday, February 26th. Nine investment 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 $204.47.
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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.
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