Principal Financial Group Inc. lessened its holdings in Home Depot Inc (NYSE:HD) by 3.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,014,416 shares of the home improvement retailer’s stock after selling 69,981 shares during the quarter. Principal Financial Group Inc. owned approximately 0.17% of Home Depot worth $329,478,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its holdings in shares of Home Depot by 2,013.2% during the second quarter. Janus Henderson Group PLC now owns 3,319,727 shares of the home improvement retailer’s stock valued at $509,247,000 after acquiring an additional 3,162,631 shares during the period. Harbour Capital Advisors LLC boosted its holdings in shares of Home Depot by 15,121.1% during the second quarter. Harbour Capital Advisors LLC now owns 1,865,037 shares of the home improvement retailer’s stock valued at $12,158,000 after acquiring an additional 1,852,784 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Home Depot during the second quarter valued at $133,780,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Home Depot by 35.2% during the second quarter. Parametric Portfolio Associates LLC now owns 3,265,338 shares of the home improvement retailer’s stock valued at $500,903,000 after acquiring an additional 850,074 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Home Depot by 14.4% during the second quarter. Jennison Associates LLC now owns 6,068,468 shares of the home improvement retailer’s stock valued at $930,903,000 after acquiring an additional 761,586 shares during the period. 70.18% of the stock is owned by hedge funds and other institutional investors.
Shares of Home Depot Inc (HD) opened at $199.82 on Thursday. Home Depot Inc has a one year low of $134.60 and a one year high of $199.82. 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 firm has a market cap of $233,340.00, a PE ratio of 27.71, a P/E/G ratio of 1.82 and a beta of 1.11.
Home Depot announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 6th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other Home Depot news, EVP Matt Carey sold 41,396 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $183.03, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on HD. Deutsche Bank boosted their price target on shares of Home Depot from $176.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Argus boosted their price target on shares of Home Depot from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Robert W. Baird set a $175.00 price target on shares of Home Depot and gave the company a “buy” rating in a report on Friday, October 13th. Zacks Investment Research downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Atlantic Securities raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $174.16 to $174.95 in a report on Tuesday, November 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $183.28.
Home Depot 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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