Adviser Investments LLC Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Adviser Investments LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 3.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,587 shares of the home improvement retailer’s stock after purchasing an additional 1,258 shares during the period. Adviser Investments LLC’s holdings in Home Depot were worth $9,761,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Rinkey Investments bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in shares of Home Depot during the first quarter valued at approximately $25,000. Tobam bought a new stake in shares of Home Depot during the first quarter valued at approximately $27,000. Fairfield Bush & CO. bought a new stake in shares of Home Depot during the first quarter valued at approximately $27,000. Finally, Clear Perspectives Financial Planning LLC grew its position in Home Depot by 135.0% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home improvement retailer’s stock worth $28,000 after purchasing an additional 54 shares during the period. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research report on Tuesday, August 9th. Truist Financial lifted their target price on shares of Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. UBS Group lifted their target price on shares of Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Morgan Stanley lifted their target price on shares of Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Finally, MKM Partners started coverage on shares of Home Depot in a research report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 target price for the company. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.95.

Insider Activity

In other news, 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 sale, the executive vice president now directly owns 34,522 shares in the company, valued at approximately $10,917,927.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Fahim Siddiqui sold 1,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the transaction, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 $10,917,927.72. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Home Depot Stock Up 0.7 %

Shares of HD stock opened at $270.94 on Friday. The stock has a market cap of $277.37 billion, a P/E ratio of 16.65, a PEG ratio of 1.62 and a beta of 0.99. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70. The company’s fifty day simple moving average is $299.03 and its two-hundred day simple moving average is $299.21.

Home Depot (NYSE:HDGet Rating) last announced 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. The firm had revenue of $43.79 billion for the quarter, compared to analysts’ expectations of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.53 EPS. Analysts predict that The Home Depot, Inc. will post 16.62 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Wednesday, August 31st. Home Depot’s dividend payout ratio is 46.71%.

Home Depot declared that its Board of Directors has approved a stock repurchase plan on Thursday, August 18th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Home Depot Company Profile

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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.

Further Reading

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