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Rakuten Invests $57M in Home Depot

Guavy AI Editorial Team
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HD
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Rakuten Investment Management Inc., a Japanese financial services company, has made a significant investment in The Home Depot, Inc. (NYSE:HD), buying 162,910 shares of its stock valued at approximately $57,150,000.

This is not the first time Rakuten Investment Management Inc. has invested in The Home Depot; the company had previously acquired a new stake in the home improvement retailer during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).

The Home Depot's quarterly earnings results announced on August 18th exceeded analysts' expectations, with the company reporting $4.92 earnings per share (EPS) for the quarter, beating estimates of $4.73 by $0.19.

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