Home Depot Inc (HD) Position Lessened by Nicolet Bankshares Inc.

Nicolet Bankshares Inc. lessened its holdings in Home Depot Inc (NYSE:HD) by 24.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,068 shares of the home improvement retailer’s stock after selling 1,301 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Home Depot were worth $699,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Portfolio Solutions LLC purchased a new stake in Home Depot during the fourth quarter valued at about $26,000. Virtus ETF Advisers LLC purchased a new stake in Home Depot during the fourth quarter valued at about $32,000. Enlightenment Research LLC purchased a new stake in Home Depot during the fourth quarter valued at about $34,000. Private Ocean LLC raised its position in Home Depot by 53.3% during the fourth quarter. Private Ocean LLC now owns 207 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 72 shares in the last quarter. Finally, Ironwood Financial llc raised its position in Home Depot by 39.5% during the fourth quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock valued at $49,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 69.31% of the company’s stock.

HD opened at $193.59 on Friday. The stock has a market capitalization of $213.70 billion, a PE ratio of 19.57, a P/E/G ratio of 1.62 and a beta of 1.09. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 17.68. Home Depot Inc has a 12 month low of $158.09 and a 12 month high of $215.43.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $2.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.10. The firm had revenue of $26.38 billion for the quarter, compared to the consensus estimate of $26.34 billion. Home Depot had a negative return on equity of 6,597.69% and a net margin of 10.24%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 earnings per share. On average, analysts predict that Home Depot Inc will post 10.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $1.36 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $5.44 annualized dividend and a dividend yield of 2.81%. Home Depot’s dividend payout ratio is currently 55.01%.

Home Depot announced that its board has initiated a stock 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 purchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

A number of equities research analysts have weighed in on the company. Telsey Advisory Group downgraded Home Depot from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $205.00 to $192.00 in a research report on Wednesday, February 27th. Zacks Investment Research downgraded Home Depot from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Bank of America restated a “neutral” rating and set a $202.00 price target on shares of Home Depot in a research report on Thursday, April 11th. Credit Suisse Group set a $194.00 price target on Home Depot and gave the company a “hold” rating in a research report on Tuesday, February 26th. Finally, Wells Fargo & Co raised their price target on Home Depot from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Home Depot presently has an average rating of “Buy” and an average price target of $205.29.

In other news, EVP Mark Holifield sold 12,000 shares of Home Depot stock in a transaction dated 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 transaction, the executive vice president now owns 39,794 shares in the company, valued at $7,306,178.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 5,450 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 51,030 shares in the company, valued at $9,423,710.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,194 shares of company stock worth $7,553,141. Company insiders own 0.27% of the company’s stock.

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Home Depot Company Profile

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.

Further Reading: What is Forex?

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

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