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Legacy Bridge LLC Takes Position in Home Depot Inc (HD)

Legacy Bridge LLC bought a new position in Home Depot Inc (NYSE:HD) during the 4th quarter, HoldingsChannel.com reports. The firm bought 4,080 shares of the home improvement retailer’s stock, valued at approximately $701,000. Home Depot accounts for 0.9% of Legacy Bridge LLC’s investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HD. Cape Cod Five Cents Savings Bank boosted its holdings in Home Depot by 14.0% in the third quarter. Cape Cod Five Cents Savings Bank now owns 46,409 shares of the home improvement retailer’s stock worth $9,614,000 after acquiring an additional 5,707 shares in the last quarter. First Hawaiian Bank boosted its holdings in Home Depot by 3,133.2% in the third quarter. First Hawaiian Bank now owns 35,662 shares of the home improvement retailer’s stock worth $7,388,000 after acquiring an additional 34,559 shares in the last quarter. Andra AP fonden boosted its holdings in Home Depot by 22.0% in the third quarter. Andra AP fonden now owns 33,800 shares of the home improvement retailer’s stock worth $7,002,000 after acquiring an additional 6,100 shares in the last quarter. Allianz Life Insurance Co. of North America boosted its holdings in Home Depot by 16.2% in the third quarter. Allianz Life Insurance Co. of North America now owns 4,495 shares of the home improvement retailer’s stock worth $931,000 after acquiring an additional 628 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in Home Depot by 1.2% in the third quarter. Raymond James Trust N.A. now owns 114,159 shares of the home improvement retailer’s stock worth $23,649,000 after acquiring an additional 1,320 shares in the last quarter. Institutional investors own 70.81% of the company’s stock.

Get Home Depot alerts: Shares of NYSE:HD opened at $203.85 on Friday. Home Depot Inc has a 52-week low of $158.09 and a 52-week high of $215.43. The stock has a market capitalization of $222.41 billion, a PE ratio of 20.61, a PEG ratio of 1.73 and a beta of 1.09. The company has a debt-to-equity ratio of 17.68, a current ratio of 1.11 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. Home Depot had a return on equity of 1,441.05% and a net margin of 10.28%. The firm had revenue of $26.49 billion during the quarter, compared to analysts’ expectations of $26.57 billion. During the same period last year, the business posted $1.69 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts predict that Home Depot Inc will post 10.08 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.67%. This is a boost from Home Depot’s previous quarterly dividend of $1.03. The ex-dividend date was Wednesday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 55.01%.

Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 26th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to purchase up to 6.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Several brokerages have weighed in on HD. Citigroup lowered their price target on Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a report on Monday, April 1st. Bank of America reissued a “neutral” rating and issued a $202.00 price target on shares of Home Depot in a report on Thursday. Evercore ISI began coverage on Home Depot in a report on Wednesday, March 20th. They issued an “outperform” rating and a $215.00 price target for the company. Wedbush lowered their price target on Home Depot from $190.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, February 27th. Finally, Deutsche Bank raised their price objective on Home Depot from $200.00 to $208.00 and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Nine research analysts have hold rating and eleven have assigned a buy rating to the stock. Home Depot presently has an average rating of “Buy” and an average target price of $203.88.

In related news, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the transaction, the executive vice president now directly owns 86,813 shares in the company, valued at $15,880,702.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink . Also, EVP Ann Marie Campbell sold 5,450 shares of Home Depot stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $184.67, for a total value of $1,006,451.50. Following the transaction, the executive vice president now owns 51,030 shares of the company’s stock, valued at $9,423,710.10. The disclosure for this sale can be found here . Over the last 90 days, insiders sold 41,194 shares of company stock valued at $7,553,141. Company insiders own 0.25% of the company’s stock.

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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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