Home Depot Inc (HD) Shares Sold by Prio Wealth Limited Partnership
Prio Wealth Limited Partnership lowered its stake in Home Depot Inc (NYSE:HD) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,560 shares of the home improvement retailer’s stock after selling 2,065 shares during the quarter. Home Depot comprises approximately 2.0% of Prio Wealth Limited Partnership’s holdings, making the stock its 15th largest holding. Prio Wealth Limited Partnership’s holdings in Home Depot were worth $37,724,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Strategic Financial Group LLC lifted its stake in Home Depot by 46.5% in the 4th quarter. Strategic Financial Group LLC now owns 4,037 shares of the home improvement retailer’s stock worth $694,000 after purchasing an additional 1,282 shares in the last quarter. Whitener Capital Management Inc. lifted its stake in Home Depot by 43.7% in the 4th quarter. Whitener Capital Management Inc. now owns 6,590 shares of the home improvement retailer’s stock worth $1,132,000 after purchasing an additional 2,005 shares in the last quarter. Swedbank raised its position in shares of Home Depot by 0.9% during the 4th quarter. Swedbank now owns 725,937 shares of the home improvement retailer’s stock valued at $123,569,000 after buying an additional 6,539 shares in the last quarter. Cornell Pochily Investment Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter valued at about $339,000. Finally, Kovack Advisors Inc. raised its position in shares of Home Depot by 3.8% during the 4th quarter. Kovack Advisors Inc. now owns 15,668 shares of the home improvement retailer’s stock valued at $2,692,000 after buying an additional 568 shares in the last quarter. Institutional investors and hedge funds own 69.31% of the company’s stock.
Shares of HD stock opened at $192.00 on Friday. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.04. The stock has a market capitalization of $208.54 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 1.62 and a beta of 1.09. Home Depot Inc has a one year low of $158.09 and a one year high of $215.43.
Home Depot declared that its board has initiated a share buyback plan on Tuesday, February 26th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.83%. Home Depot’s dividend payout ratio is currently 55.01%.
In other Home Depot news, EVP Edward P. Decker sold 23,744 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were 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 directly owns 86,813 shares in the company, valued at approximately $15,880,702.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $1,006,451.50. Following the transaction, the executive vice president now owns 51,030 shares in the company, valued at $9,423,710.10. The disclosure for this sale can be found here. Insiders sold a total of 41,194 shares of company stock worth $7,553,141 over the last 90 days. Insiders own 0.27% of the company’s stock.
Several analysts have recently issued reports on the stock. Robert W. Baird restated a “positive” rating on shares of Home Depot in a research report on Thursday, April 25th. Morgan Stanley upped their target price on shares of Home Depot from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Telsey Advisory Group restated a “market perform” rating and set a $192.00 target price on shares of Home Depot in a research report on Wednesday, May 1st. Zacks Investment Research cut shares of Home Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Finally, Bank of America restated a “neutral” rating and set a $202.00 target price on shares of Home Depot in a research report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $205.29.
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Home Depot Profile
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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