Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

The Home Depot, Inc. (HD) Updates Investors on Costs Related to Data Breach

Page 1 of 2

Earlier today The Home Depot, Inc. (NYSE:HDannounced that the data breach of 2014 resulted in a $2 million pre-tax expense in the first quarter. The Atlanta based home improvement retailer also said that it has not set aside an accrual for costs related to the security breach because of its inability to estimate a range for the costs.  Last week, a US federal judge said that multiple suits against Home Depot regarding the security breach of 2014 which led to the financial data compromise of 56 million customers can result in a trial. The 10-Q report also showed that The Home Depot recorded $16 million in pretax expenses related to the data breach in the previous fiscal year and the total pretax gross expenses related to the data breach amounted to $263 million since the incident, offset by $100 million of the expected insurance proceeds. The stock is moving slightly higher on Tuesday, which should please hedge funds as they piled into the stock during the first quarter. The number of long hedge fund positions in Home Depot increased by 12 lately and, at the end of March, 74 funds tracked by Insider Monkey reported holding shares of the company.

Follow Home Depot Inc (NYSE:HD)
Trade (NYSE:HD) Now!

According to Insider Monkey’s hedge fund database, Ken Fisher’s Fisher Asset Management has the largest position in The Home Depot, Inc. (NYSE:HD), worth close to $1.1421 billion, corresponding to 2.2% of its total 13F portfolio. The second largest stake is held by Citadel Investment Group, managed by Ken Griffin, which holds a $359.5 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Other peers with similar optimism encompass Cliff Asness’s AQR Capital Management, John Armitage’s Egerton Capital Limited and Ryan Pedlow’s Two Creeks Capital Management.

On the next page, we are going to take a look at the new action surrounding The Home Depot. At the end of this article we will also compare HD to other stocks, including Visa Inc (NYSE:V), Toyota Motor Corporation (ADR) (NYSE:TM), and The Walt Disney Company (NYSE:DIS) to get a better sense of its popularity.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!