Hurlow Wealth Management Group Inc. grew its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,945 shares of the home improvement retailer’s stock after buying an additional 66 shares during the period. Hurlow Wealth Management Group Inc.’s holdings in Home Depot were worth $533,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rinkey Investments acquired a new stake in shares of Home Depot in the fourth quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in Home Depot during the first quarter valued at $25,000. Tobam acquired a new stake in Home Depot during the first quarter valued at $27,000. Fairfield Bush & CO. acquired a new stake in Home Depot during the first quarter valued at $27,000. Finally, Clear Perspectives Financial Planning LLC grew its position in Home Depot by 135.0% during the first quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home improvement retailer’s stock valued at $28,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 68.66% of the company’s stock.
Home Depot Price Performance
Shares of HD stock opened at $275.97 on Monday. The company has a debt-to-equity ratio of 165.70, a current ratio of 1.18 and a quick ratio of 0.25. The firm’s 50-day moving average is $300.51 and its two-hundred day moving average is $300.96. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61. The company has a market capitalization of $282.52 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99.
Home Depot (NYSE:HD – Get Rating) last issued its earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, topping 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 company had revenue of $43.79 billion for the quarter, compared to the consensus estimate of $43.33 billion. During the same period in the previous year, the firm earned $4.53 earnings per share. Home Depot’s quarterly revenue was up 6.5% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 16.56 earnings per share for the current year.
Home Depot Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Wednesday, August 31st. Home Depot’s dividend payout ratio is presently 46.71%.
Home Depot declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several research firms recently commented on HD. Truist Financial raised their price target on shares of Home Depot from $375.00 to $399.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Raymond James raised their price target on shares of Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Morgan Stanley raised their price target on shares of Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. Robert W. Baird raised their price target on shares of Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, August 16th. Finally, Guggenheim raised their price target on shares of Home Depot from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $365.95.
Insider Buying and Selling at Home Depot
In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot 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 completion of the sale, the executive vice president now directly owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot 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 completion of the sale, the executive vice president now directly owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
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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