Barrett Asset Management LLC Has $19.90 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Barrett Asset Management LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,478 shares of the home improvement retailer’s stock after buying an additional 3,507 shares during the period. Barrett Asset Management LLC’s holdings in Home Depot were worth $19,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rinkey Investments bought a new stake in Home Depot during the 4th quarter worth about $25,000. GW&K Investment Management LLC bought a new stake in Home Depot during the 1st quarter worth about $25,000. Tobam bought a new stake in shares of Home Depot in the 1st quarter valued at about $27,000. Fairfield Bush & CO. bought a new stake in shares of Home Depot in the 1st quarter valued at about $27,000. Finally, Joseph Group Capital Management bought a new stake in shares of Home Depot in the 4th quarter valued at about $1,705,000. Institutional investors and hedge funds own 68.66% of the company’s stock.

Home Depot Stock Down 0.0 %

HD opened at $299.77 on Friday. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61. The stock’s fifty day simple moving average is $300.92 and its 200 day simple moving average is $302.44. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70. The stock has a market cap of $306.88 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.60 and a beta of 0.99.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly 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 business had revenue of $43.79 billion for the quarter, compared to analysts’ expectations of $43.33 billion. During the same quarter in the prior year, the business earned $4.53 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

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 paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, August 31st. Home Depot’s dividend payout ratio (DPR) is presently 46.71%.

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

Analyst Ratings Changes

A number of brokerages have recently commented on HD. Robert W. Baird upped their price target on Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, August 16th. Jefferies Financial Group lowered their price target on Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, May 18th. Morgan Stanley upped their price target on Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, August 17th. DA Davidson upped their price target on Home Depot to $334.00 in a research note on Monday, August 22nd. Finally, Raymond James boosted their price objective on Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $365.95.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 12,650 shares of the 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 approximately $10,917,927.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by company insiders.

Home Depot Company 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.

See Also

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