Thrive Wealth Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 42.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,230 shares of the home improvement retailer’s stock after acquiring an additional 667 shares during the period. Thrive Wealth Management LLC’s holdings in Home Depot were worth $612,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in HD. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter valued at about $4,325,629,000. Renaissance Technologies LLC bought a new stake in shares of Home Depot in the 1st quarter valued at about $563,524,000. Parnassus Investments LLC bought a new stake in shares of Home Depot in the 1st quarter valued at about $542,084,000. Charles Schwab Investment Management Inc. grew 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 during the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in shares of Home Depot by 25,355.1% in the 1st quarter. Aaron Wealth Advisors LLC now owns 695,942 shares of the home improvement retailer’s stock valued at $2,325,000 after buying an additional 693,208 shares during the last quarter. Institutional investors own 68.66% of the company’s stock.
Insider Activity at Home Depot
In related news, 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 directly owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matt Carey sold 12,650 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 34,522 shares of the company’s stock, valued at $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.
Home Depot Stock Performance
Shares of HD opened at $275.97 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70. The company has a market capitalization of $282.52 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.48 and a beta of 0.99. The stock has a 50 day moving average of $300.51 and a 200 day moving average of $300.96. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61.
Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, beating analysts’ consensus estimates of $4.95 by $0.10. The company had revenue of $43.79 billion during the quarter, compared to the consensus estimate of $43.33 billion. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. Home Depot’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $4.53 earnings per share. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 16.56 earnings per share for the current year.
Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 18th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Home Depot Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors 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 payout ratio is 46.71%.
Analyst Ratings Changes
A number of research firms have commented on HD. MKM Partners began coverage on Home Depot in a research report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price target on the stock. Truist Financial upped their target price on Home Depot from $375.00 to $399.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Wedbush upped their target price on Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a research report on Wednesday, August 17th. DA Davidson upped their target price on Home Depot to $334.00 in a research report on Monday, August 22nd. Finally, JPMorgan Chase & Co. cut their target price on Home Depot from $335.00 to $311.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $365.95.
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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