FirstPurpose Wealth LLC raised its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 12.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,159 shares of the home improvement retailer’s stock after purchasing an additional 236 shares during the period. FirstPurpose Wealth LLC’s holdings in Home Depot were worth $592,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in HD. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth $4,325,629,000. Renaissance Technologies LLC acquired a new stake in Home Depot during the first quarter worth about $563,524,000. Parnassus Investments LLC bought a new position in Home Depot in the 1st quarter valued at about $542,084,000. Charles Schwab Investment Management Inc. raised its position in shares of Home Depot by 14.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after buying an additional 1,361,660 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its holdings in shares of Home Depot by 25,355.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 695,942 shares of the home improvement retailer’s stock worth $2,325,000 after acquiring an additional 693,208 shares during the period. Institutional investors and hedge funds own 68.66% of the company’s stock.
Home Depot Stock Down 2.1 %
Shares of NYSE HD opened at $284.32 on Friday. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $420.61. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18. The company’s 50 day moving average price is $295.01 and its 200-day moving average price is $296.08. The company has a market capitalization of $291.07 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.55 and a beta of 0.95.
Home Depot (NYSE:HD – Get Rating) last released its earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.10. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The business had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. During the same quarter in the previous year, the business earned $4.53 earnings per share. Home Depot’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 16.64 earnings per share for the current year.
Home Depot declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Home Depot Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $1.90 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 annualized dividend and a yield of 2.67%. Home Depot’s dividend payout ratio is currently 46.71%.
Insiders Place Their Bets
In other Home Depot news, EVP Matt Carey sold 12,650 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the transaction, the executive vice president now directly owns 34,522 shares in the company, valued at approximately $10,917,927.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction on Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the sale, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares in the company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $399.00 price objective on shares of Home Depot in a research report on Thursday. Piper Sandler upped their price objective on Home Depot to $327.00 in a research report on Monday, August 22nd. MKM Partners initiated coverage on Home Depot in a research report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 target price on the stock. Guggenheim increased their target price on shares of Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Finally, UBS Group lifted their price target on shares of Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.68.
Home Depot Company Profile
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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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