Peterson Financial Group Inc. Invests $7.05 Million in The Home Depot, Inc. (NYSE:HD)
Peterson Financial Group Inc. purchased a new position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,980 shares of the home improvement retailer’s stock, valued at approximately $7,047,000. Home Depot comprises approximately 1.7% of Peterson Financial Group Inc.’s holdings, making the stock its 15th biggest position.
Other hedge funds have also recently made changes to their positions in the company. Bristol Gate Capital Partners Inc. raised its stake in Home Depot by 2.9% in the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 262,620 shares of the home improvement retailer’s stock valued at $86,207,000 after purchasing an additional 7,310 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Home Depot by 18.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,417,943 shares of the home improvement retailer’s stock worth $1,122,117,000 after purchasing an additional 521,895 shares during the period. ARGI Investment Services LLC grew its holdings in shares of Home Depot by 4.2% during the 4th quarter. ARGI Investment Services LLC now owns 9,069 shares of the home improvement retailer’s stock worth $3,764,000 after purchasing an additional 366 shares during the period. SG Americas Securities LLC grew its holdings in shares of Home Depot by 29.6% during the 3rd quarter. SG Americas Securities LLC now owns 178,283 shares of the home improvement retailer’s stock worth $58,523,000 after purchasing an additional 40,707 shares during the period. Finally, Independent Advisor Alliance grew its holdings in shares of Home Depot by 1.6% during the 3rd quarter. Independent Advisor Alliance now owns 87,665 shares of the home improvement retailer’s stock worth $28,777,000 after purchasing an additional 1,347 shares during the period. 69.52% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on HD. Wedbush decreased their target price on Home Depot from $410.00 to $340.00 in a report on Wednesday, February 23rd. JPMorgan Chase & Co. decreased their price target on Home Depot from $406.00 to $365.00 in a report on Wednesday, February 23rd. StockNews.com started coverage on Home Depot in a report on Thursday, March 31st. They issued a “hold” rating for the company. Robert W. Baird decreased their price target on Home Depot from $425.00 to $380.00 in a report on Tuesday, February 22nd. Finally, Morgan Stanley reduced their target price on Home Depot from $420.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, February 23rd. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Buy” and an average price target of $392.83.
Shares of HD stock opened at $304.86 on Wednesday. The stock has a 50-day simple moving average of $333.01 and a 200 day simple moving average of $361.31. The Home Depot, Inc. has a fifty-two week low of $298.40 and a fifty-two week high of $420.61. The stock has a market capitalization of $315.03 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.95 and a beta of 1.04. The company has a quick ratio of 0.24, a current ratio of 1.01 and a debt-to-equity ratio of 35.47.
Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings results on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.20 by $0.01. Home Depot had a return on equity of 2,082.76% and a net margin of 10.87%. The business had revenue of $35.72 billion during the quarter, compared to analyst estimates of $34.85 billion. During the same quarter last year, the company posted $2.74 EPS. Home Depot’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 16.04 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 24th. Investors of record on Thursday, March 10th were given a $1.90 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $1.65. The ex-dividend date was Wednesday, March 9th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.49%. Home Depot’s dividend payout ratio (DPR) is 48.97%.
In related news, EVP Hector A. Padilla sold 504 shares of the stock in a transaction on Friday, March 25th. The stock was sold at an average price of $309.80, for a total value of $156,139.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.
Home Depot Company Profile (Get Rating)
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, 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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