Family Management Corp lessened its position in shares of Home Depot Inc (NYSE:HD) by 2.0% in the third quarter, Holdings Channel reports. The institutional investor owned 29,162 shares of the home improvement retailer’s stock after selling 595 shares during the period. Home Depot makes up 3.3% of Family Management Corp’s holdings, making the stock its 11th biggest holding. Family Management Corp’s holdings in Home Depot were worth $4,770,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Home Depot by 0.9% in the second quarter. Vanguard Group Inc. now owns 80,417,310 shares of the home improvement retailer’s stock valued at $12,336,016,000 after purchasing an additional 703,292 shares in the last quarter. Capital Research Global Investors increased its stake in Home Depot by 0.9% in the second quarter. Capital Research Global Investors now owns 20,025,701 shares of the home improvement retailer’s stock valued at $3,071,943,000 after purchasing an additional 170,139 shares in the last quarter. Northern Trust Corp increased its stake in Home Depot by 1.3% in the second quarter. Northern Trust Corp now owns 17,333,833 shares of the home improvement retailer’s stock valued at $2,659,010,000 after purchasing an additional 222,958 shares in the last quarter. Alliancebernstein L.P. increased its stake in Home Depot by 1.1% in the second quarter. Alliancebernstein L.P. now owns 8,027,935 shares of the home improvement retailer’s stock valued at $1,231,485,000 after purchasing an additional 84,750 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Home Depot by 4.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 6,089,219 shares of the home improvement retailer’s stock valued at $995,953,000 after purchasing an additional 249,947 shares in the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.
Home Depot Inc (HD) opened at $185.27 on Friday. Home Depot Inc has a twelve month low of $140.90 and a twelve month high of $207.60. The firm has a market cap of $216,350.00, a PE ratio of 25.70, a P/E/G ratio of 1.34 and a beta of 1.08. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54.
Home Depot declared that its board has authorized a share buyback plan on Wednesday, December 6th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Home Depot from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Tuesday, February 6th. Jefferies Group reaffirmed a “buy” rating and issued a $223.00 price target on shares of Home Depot in a research note on Monday, February 5th. Stifel Nicolaus lifted their price target on shares of Home Depot from $209.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Credit Suisse Group lifted their price target on shares of Home Depot from $183.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $220.00 price target (up from $190.00) on shares of Home Depot in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Home Depot currently has an average rating of “Buy” and an average target price of $190.32.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total value of $7,576,709.88. Following the transaction, the executive vice president now directly owns 29,559 shares in the company, valued at $5,410,183.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.
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Home Depot Profile
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serves three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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