Mirae Asset Global Investments Co. Ltd. Buys 45,652 Shares of The Home Depot, Inc. (NYSE:HD)

Mirae Asset Global Investments Co. Ltd. raised its stake in The Home Depot, Inc. (NYSE:HD) by 18.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 294,024 shares of the home improvement retailer’s stock after acquiring an additional 45,652 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Home Depot were worth $91,320,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Home Depot by 99,916.0% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 870,320,643 shares of the home improvement retailer’s stock worth $270,356,404,000 after purchasing an additional 869,450,462 shares in the last quarter. BlackRock Inc. boosted its stake in Home Depot by 1.2% in the first quarter. BlackRock Inc. now owns 77,137,759 shares of the home improvement retailer’s stock worth $22,764,896,000 after purchasing an additional 878,220 shares in the last quarter. Geode Capital Management LLC boosted its stake in Home Depot by 0.7% in the first quarter. Geode Capital Management LLC now owns 19,135,000 shares of the home improvement retailer’s stock worth $5,635,031,000 after purchasing an additional 126,981 shares in the last quarter. Morgan Stanley boosted its stake in Home Depot by 10.0% in the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after purchasing an additional 1,698,402 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Home Depot by 6.3% in the first quarter. Wellington Management Group LLP now owns 15,718,744 shares of the home improvement retailer’s stock worth $4,638,916,000 after purchasing an additional 925,962 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.3 %

Shares of Home Depot stock opened at $307.27 on Friday. The business’s 50 day simple moving average is $298.63 and its 200 day simple moving average is $306.55. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $347.25. The firm has a market cap of $307.29 billion, a PE ratio of 19.72, a P/E/G ratio of 2.30 and a beta of 0.93. The company has a debt-to-equity ratio of 28.37, a quick ratio of 0.35 and a current ratio of 1.30.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.06. Home Depot had a return on equity of 1,339.65% and a net margin of 10.22%. The business had revenue of $37.71 billion for the quarter, compared to analyst estimates of $37.59 billion. During the same quarter last year, the firm earned $4.24 EPS. Home Depot’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts predict that The Home Depot, Inc. will post 15.05 earnings per share for the current fiscal year.

Home Depot declared that its Board of Directors has approved a stock buyback program on Tuesday, August 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a $2.09 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $8.36 dividend on an annualized basis and a yield of 2.72%. Home Depot’s dividend payout ratio is 53.66%.

Insider Buying and Selling at Home Depot

In other Home Depot news, CAO Kimberly R. Scardino sold 1,375 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $306.51, for a total value of $421,451.25. Following the completion of the transaction, the chief accounting officer now directly owns 6,744 shares in the company, valued at $2,067,103.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Home Depot news, CAO Kimberly R. Scardino sold 1,375 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $306.51, for a total value of $421,451.25. Following the completion of the transaction, the chief accounting officer now directly owns 6,744 shares in the company, valued at $2,067,103.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total value of $1,974,824.02. Following the completion of the transaction, the executive vice president now owns 22,749 shares of the company’s stock, valued at $7,375,680.78. The disclosure for this sale can be found here. Insiders sold a total of 21,186 shares of company stock worth $6,862,827 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley cut their price target on Home Depot from $350.00 to $335.00 and set an “overweight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on Home Depot from $321.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. Wedbush upped their price target on Home Depot from $290.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, August 16th. Jefferies Financial Group upped their price target on Home Depot from $370.00 to $384.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $325.00 price target on shares of Home Depot in a research note on Wednesday. Twelve investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $339.57.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.