Stratos Wealth Partners LTD. lessened its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,722 shares of the home improvement retailer’s stock after selling 1,572 shares during the period. Home Depot accounts for 0.7% of Stratos Wealth Partners LTD.’s holdings, making the stock its 26th biggest holding. Stratos Wealth Partners LTD.’s holdings in Home Depot were worth $27,625,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Home Depot during the fourth quarter valued at about $4,325,629,000. Renaissance Technologies LLC acquired a new position in shares of Home Depot during the first quarter valued at about $563,524,000. Parnassus Investments LLC acquired a new position in shares of Home Depot during the first quarter valued at about $542,084,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Home Depot by 14.5% during the first 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 purchasing an additional 1,361,660 shares during the period. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of Home Depot by 25,355.1% during the first quarter. Aaron Wealth Advisors LLC now owns 695,942 shares of the home improvement retailer’s stock valued at $2,325,000 after purchasing an additional 693,208 shares during the period. Institutional investors own 68.66% of the company’s stock.
Insider Buying and Selling
In related news, EVP Fahim Siddiqui sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at approximately $1,857,646.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $316.26, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300.590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
Home Depot Stock Up 0.2%
Home Depot stock opened at $290.39 on Friday. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $420.61. The firm has a 50 day moving average price of $295.34 and a 200-day moving average price of $296.16. The company has a market capitalization of $297.28 billion, a P/E ratio of 17.85, a P/E/G ratio of 1.55 and a beta of 0.95. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70.
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 for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $43.79 billion during the quarter, compared to the consensus estimate of $43.33 billion. During the same period in the prior year, the firm earned $4.53 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, equity analysts predict that The Home Depot, Inc. will post 16.64 EPS for the current year.
Home Depot announced that its board has initiated a stock buyback 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 repurchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Home Depot Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Wednesday, August 31st. Home Depot’s dividend payout ratio (DPR) is presently 46.71%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. MKM Partners assumed coverage on shares of Home Depot in a report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 target price on the stock. Evercore ISI lowered their target price on shares of Home Depot to $360.00 in a report on Thursday, June 9th. JPMorgan Chase & Co. lowered their target price on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating on the stock in a report on Tuesday, August 9th. Guggenheim upped 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, Morgan Stanley upped their target price on shares of Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $365.68.
About Home Depot
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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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