SevenBridge Financial Group LLC Acquires 416 Shares of The Home Depot, Inc. (NYSE:HD)

SevenBridge Financial Group LLC raised its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 20.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,423 shares of the home improvement retailer’s stock after purchasing an additional 416 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Home Depot were worth $665,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in Home Depot by 0.4% in the first quarter. State Street Corp now owns 45,622,114 shares of the home improvement retailer’s stock valued at $13,656,067,000 after purchasing an additional 180,532 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 worth $3,211,731,000 after acquiring an additional 1,361,660 shares during the last quarter. Norges Bank bought a new position in shares of Home Depot during the fourth quarter worth about $4,325,629,000. Fisher Asset Management LLC raised its position in shares of Home Depot by 3.9% during the first quarter. Fisher Asset Management LLC now owns 8,134,863 shares of the home improvement retailer’s stock worth $2,435,009,000 after acquiring an additional 303,885 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Home Depot by 12.2% during the fourth quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer’s stock worth $2,166,946,000 after acquiring an additional 566,462 shares during the last quarter. 68.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. MKM Partners initiated coverage on Home Depot in a research report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research report on Tuesday, August 9th. Robert W. Baird raised their target price on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 16th. DA Davidson raised their target price on Home Depot to $334.00 in a research note on Monday, August 22nd. Finally, Guggenheim raised their target price on Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.95.

Home Depot Stock Down 2.2 %

HD stock opened at $274.17 on Wednesday. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month 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 stock’s 50 day moving average is $300.39 and its 200-day moving average is $300.50. The firm has a market capitalization of $280.68 billion, a PE ratio of 16.85, a P/E/G ratio of 1.51 and a beta of 0.99.

Home Depot (NYSE:HDGet Rating) last posted its earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. During the same quarter last year, the company earned $4.53 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $1.90 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.77%. Home Depot’s dividend payout ratio is presently 46.71%.

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

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction on Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction on Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction 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 $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Home Depot Profile

(Get Rating)

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.

Recommended Stories

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

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.