Home Depot Inc (HD) Stake Lessened by JGP Wealth Management LLC

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JGP Wealth Management LLC cut its holdings in Home Depot Inc (NYSE:HD) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,423 shares of the home improvement retailer’s stock after selling 270 shares during the period. JGP Wealth Management LLC’s holdings in Home Depot were worth $2,478,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Amussen Hunsaker Associates LLC bought a new position in Home Depot during the second quarter valued at $107,000. Mainstay Capital Management LLC ADV grew its holdings in Home Depot by 203.0% during the second quarter. Mainstay Capital Management LLC ADV now owns 597 shares of the home improvement retailer’s stock valued at $116,000 after purchasing an additional 400 shares during the period. Highwater Wealth Management LLC bought a new position in Home Depot during the fourth quarter valued at $124,000. Capital Advisors Ltd. LLC grew its holdings in Home Depot by 162.0% during the third quarter. Capital Advisors Ltd. LLC now owns 613 shares of the home improvement retailer’s stock valued at $127,000 after purchasing an additional 379 shares during the period. Finally, Canton Hathaway LLC bought a new position in Home Depot during the third quarter valued at $166,000. 68.07% of the stock is owned by institutional investors.

NYSE:HD opened at $188.75 on Friday. The firm has a market cap of $213.20 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.60 and a beta of 1.09. Home Depot Inc has a 1 year low of $158.09 and a 1 year high of $215.43. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.09. The firm had revenue of $26.49 billion for the quarter, compared to the consensus estimate of $26.57 billion. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.69 earnings per share. On average, analysts predict that Home Depot Inc will post 10.08 earnings per share for the current fiscal year.

Home Depot announced that its Board of Directors has initiated a share buyback program on Tuesday, February 26th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be given a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Wednesday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s dividend payout ratio (DPR) is 55.01%.

In related news, EVP Ann Marie Campbell sold 5,450 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $184.67, for a total value of $1,006,451.50. Following the sale, the executive vice president now owns 51,030 shares in the company, valued at $9,423,710.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Holifield sold 12,000 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the sale, the executive vice president now owns 39,794 shares in the company, valued at approximately $7,306,178.40. The disclosure for this sale can be found here. Insiders sold 41,194 shares of company stock worth $7,553,141 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Several brokerages have weighed in on HD. Telsey Advisory Group lowered Home Depot from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $205.00 to $192.00 in a report on Wednesday, February 27th. Credit Suisse Group set a $194.00 price objective on Home Depot and gave the company a “hold” rating in a report on Tuesday, February 26th. Edward Jones raised Home Depot from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Deutsche Bank increased their price objective on Home Depot from $200.00 to $208.00 and gave the company a “buy” rating in a report on Wednesday, February 27th. Finally, Evercore ISI began coverage on Home Depot in a research report on Wednesday. They set an “outperform” rating and a $215.00 target price on the stock. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $204.06.

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About Home Depot

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 provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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

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