Gareth Morgan Investments Limited Partnership Acquires 31,113 Shares of Home Depot Inc (HD)

Gareth Morgan Investments Limited Partnership boosted its stake in shares of Home Depot Inc (NYSE:HD) by 66.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,245 shares of the home improvement retailer’s stock after acquiring an additional 31,113 shares during the quarter. Home Depot comprises about 1.1% of Gareth Morgan Investments Limited Partnership’s investment portfolio, making the stock its 14th biggest position. Gareth Morgan Investments Limited Partnership’s holdings in Home Depot were worth $12,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of HD. IFM Investors Pty Ltd boosted its holdings in shares of Home Depot by 113.8% in the second quarter. IFM Investors Pty Ltd now owns 33,333 shares of the home improvement retailer’s stock valued at $5,113,000 after purchasing an additional 17,741 shares during the period. Bienville Capital Management LLC boosted its holdings in shares of Home Depot by 66.0% in the second quarter. Bienville Capital Management LLC now owns 7,483 shares of the home improvement retailer’s stock valued at $1,148,000 after purchasing an additional 2,976 shares during the period. Carderock Capital Management Inc. boosted its holdings in shares of Home Depot by 3.4% in the second quarter. Carderock Capital Management Inc. now owns 15,808 shares of the home improvement retailer’s stock valued at $2,425,000 after purchasing an additional 514 shares during the period. Dearborn Partners LLC purchased a new stake in shares of Home Depot in the second quarter valued at approximately $13,121,000. Finally, Polaris Greystone Financial Group LLC boosted its holdings in shares of Home Depot by 14.9% in the second quarter. Polaris Greystone Financial Group LLC now owns 3,133 shares of the home improvement retailer’s stock valued at $481,000 after purchasing an additional 407 shares during the period. 70.13% of the stock is currently owned by institutional investors.

HD has been the subject of a number of analyst reports. Robert W. Baird set a $175.00 target price on Home Depot and gave the stock a “buy” rating in a report on Sunday, September 10th. Royal Bank of Canada set a $179.00 target price on Home Depot and gave the stock a “buy” rating in a report on Monday, October 30th. Credit Suisse Group set a $171.00 price target on Home Depot and gave the stock a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Bank of America upped their price target on Home Depot from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Home Depot currently has a consensus rating of “Buy” and an average price target of $183.28.

In other Home Depot news, EVP Matt Carey sold 41,396 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 29,559 shares of the company’s stock, valued at approximately $5,410,183.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Shares of Home Depot Inc (HD) traded down $0.25 during midday trading on Friday, hitting $189.53. 4,637,073 shares of the stock were exchanged, compared to its average volume of 4,953,805. The firm has a market cap of $221,615.41, a P/E ratio of 26.32, a P/E/G ratio of 1.93 and a beta of 1.11. The company has a debt-to-equity ratio of 9.54, a current ratio of 1.23 and a quick ratio of 0.39. Home Depot Inc has a fifty-two week low of $133.05 and a fifty-two week high of $191.49.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 14th. The home improvement retailer reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.03. Home Depot had a net margin of 8.66% and a return on equity of 238.88%. The firm had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.53 billion. During the same quarter last year, the firm earned $1.60 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. equities research analysts forecast that Home Depot Inc will post 7.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 30th were issued a $0.89 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $3.56 annualized dividend and a yield of 1.88%. Home Depot’s dividend payout ratio (DPR) is presently 49.44%.

Home Depot declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 6th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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Home Depot Company 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.

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

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