Sequoia Wealth Management LLC Takes Position in Home Depot Inc (HD)

Sequoia Wealth Management LLC acquired a new position in shares of Home Depot Inc (NYSE:HD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,101 shares of the home improvement retailer’s stock, valued at approximately $228,000.

Several other hedge funds have also made changes to their positions in the stock. Eagle Capital Management LLC boosted its holdings in Home Depot by 1.4% in the third quarter. Eagle Capital Management LLC now owns 19,839 shares of the home improvement retailer’s stock worth $4,110,000 after acquiring an additional 265 shares in the last quarter. RPg Family Wealth Advisory LLC boosted its holdings in Home Depot by 84.6% in the second quarter. RPg Family Wealth Advisory LLC now owns 600 shares of the home improvement retailer’s stock worth $117,000 after acquiring an additional 275 shares in the last quarter. Wills Financial Group Inc. boosted its holdings in Home Depot by 14.8% in the second quarter. Wills Financial Group Inc. now owns 2,156 shares of the home improvement retailer’s stock worth $420,000 after acquiring an additional 278 shares in the last quarter. Bridgeworth LLC boosted its holdings in Home Depot by 7.8% in the second quarter. Bridgeworth LLC now owns 3,869 shares of the home improvement retailer’s stock worth $754,000 after acquiring an additional 280 shares in the last quarter. Finally, Physicians Financial Services Inc. boosted its holdings in Home Depot by 3.3% in the second quarter. Physicians Financial Services Inc. now owns 8,676 shares of the home improvement retailer’s stock worth $1,693,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 69.34% of the company’s stock.

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HD stock opened at $184.68 on Monday. The company has a debt-to-equity ratio of 17.68, a quick ratio of 0.28 and a current ratio of 1.09. The company has a market capitalization of $209.16 billion, a PE ratio of 18.68, a P/E/G ratio of 1.46 and a beta of 1.10. Home Depot Inc has a twelve month low of $158.09 and a twelve month high of $215.43.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 EPS for the quarter, beating the Zacks’ consensus estimate of $2.16 by $0.09. The company had revenue of $26.49 billion during the quarter, compared to the consensus estimate of $26.57 billion. Home Depot had a return on equity of 664.88% and a net margin of 10.00%. Home Depot’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $1.69 earnings per share. Equities research analysts anticipate that Home Depot Inc will post 10.09 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.95%. This is an increase from Home Depot’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Wednesday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 41.66%.

Home Depot announced that its Board of Directors has approved a share buyback plan on Tuesday, February 26th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase up to 6.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

A number of research analysts have recently weighed in on HD shares. Credit Suisse Group dropped their target price on Home Depot from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday, February 27th. DZ Bank lowered Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. Deutsche Bank dropped their target price on Home Depot from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, November 14th. Citigroup dropped their target price on Home Depot from $227.00 to $226.00 and set a “buy” rating on the stock in a report on Wednesday, November 14th. Finally, Telsey Advisory Group lowered Home Depot from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $205.00 to $192.00 in a report on Wednesday, February 27th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $203.41.

In related news, EVP Teresa Wynn Roseborough sold 7,203 shares of the stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $177.45, for a total transaction of $1,278,172.35. Following the completion of the sale, the executive vice president now directly owns 23,109 shares of the company’s stock, valued at $4,100,692.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Holifield sold 12,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total value of $2,203,200.00. Following the sale, the executive vice president now directly owns 39,794 shares of the company’s stock, valued at $7,306,178.40. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

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About Home Depot

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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