South State Corp lowered its stake in Home Depot Inc (NYSE:HD) by 4.3% during the third quarter, HoldingsChannel reports. The firm owned 89,728 shares of the home improvement retailer’s stock after selling 4,006 shares during the quarter. Home Depot accounts for about 1.6% of South State Corp’s portfolio, making the stock its 7th largest position. South State Corp’s holdings in Home Depot were worth $14,677,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of HD. Haverford Trust Co. raised its position in shares of Home Depot by 2.5% during the 3rd quarter. Haverford Trust Co. now owns 53,166 shares of the home improvement retailer’s stock worth $8,696,000 after acquiring an additional 1,295 shares in the last quarter. Summit Asset Management LLC acquired a new stake in shares of Home Depot during the 3rd quarter worth about $225,000. Tdam USA Inc. raised its position in shares of Home Depot by 2.1% during the 3rd quarter. Tdam USA Inc. now owns 161,366 shares of the home improvement retailer’s stock worth $26,393,000 after acquiring an additional 3,381 shares in the last quarter. Harwood Advisory Group LLC raised its position in shares of Home Depot by 18.1% during the 3rd quarter. Harwood Advisory Group LLC now owns 9,851 shares of the home improvement retailer’s stock worth $1,611,000 after acquiring an additional 1,513 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Home Depot by 9.9% during the 3rd quarter. TD Asset Management Inc. now owns 2,641,359 shares of the home improvement retailer’s stock worth $432,021,000 after acquiring an additional 237,898 shares in the last quarter. 70.51% of the stock is currently owned by institutional investors.
Shares of Home Depot Inc (NYSE HD) opened at $184.12 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.39 and a debt-to-equity ratio of 9.54. The company has a market capitalization of $211,619.48, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 1.32 and a beta of 1.08. Home Depot Inc has a 12-month low of $137.41 and a 12-month high of $207.60.
Home Depot announced that its board has approved a share buyback program on Wednesday, December 6th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Several brokerages have recently weighed in on HD. Credit Suisse Group raised their target price on Home Depot from $183.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus lifted their price target on Home Depot from $209.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $190.00) on shares of Home Depot in a research report on Friday, January 19th. Jefferies Group reaffirmed a “buy” rating and set a $223.00 price target on shares of Home Depot in a research report on Monday, February 5th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Home Depot in a research report on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $190.32.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $183.03, for a total transaction of $7,576,709.88. Following the sale, 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 document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.
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.
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