Sawgrass Asset Management LLC Acquires Shares of 53,612 The Home Depot, Inc. (NYSE:HD)

Sawgrass Asset Management LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 53,612 shares of the home improvement retailer’s stock, valued at approximately $16,048,000. Home Depot comprises 1.7% of Sawgrass Asset Management LLC’s portfolio, making the stock its 17th largest holding.

A number of other hedge funds have also bought and sold shares of HD. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter valued at $4,325,629,000. Renaissance Technologies LLC purchased a new stake in shares of Home Depot during the first quarter valued at $563,524,000. Parnassus Investments LLC purchased a new stake in shares of Home Depot during the first quarter valued at $542,084,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after purchasing an additional 1,361,660 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Home Depot by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock valued at $7,002,662,000 after purchasing an additional 701,811 shares during the period. Institutional investors own 68.66% of the company’s stock.

Home Depot Stock Performance

HD opened at $277.93 on Wednesday. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $420.61. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70. The company has a market cap of $284.52 billion, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99. The firm’s 50-day moving average price is $301.17 and its 200-day moving average price is $301.72.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.10. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The firm had revenue of $43.79 billion for the quarter, compared to the consensus estimate of $43.33 billion. During the same quarter in the prior year, the company posted $4.53 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot announced that its board has approved a stock buyback program on Thursday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a $1.90 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $7.60 annualized dividend and a yield of 2.73%. Home Depot’s dividend payout ratio (DPR) is presently 46.71%.

Insider Buying and Selling

In related news, EVP Matt Carey sold 12,650 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares in the company, valued at approximately $10,917,927.72. The sale was disclosed in a filing with the SEC, which is available through this link. In other Home Depot news, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the sale, the executive vice president now owns 34,522 shares in the company, valued at approximately $10,917,927.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. MKM Partners began coverage on shares of Home Depot in a research note on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price objective for the company. Robert W. Baird upped their price objective on shares of Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research note on Tuesday, August 9th. Finally, DA Davidson upped their price objective on shares of Home Depot to $334.00 in a research note on Monday, August 22nd. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $365.95.

Home Depot Profile

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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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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

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