Thrive Wealth Management LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 42.7% in the second quarter, HoldingsChannel reports. The firm owned 2,230 shares of the home improvement retailer’s stock after buying an additional 667 shares during the quarter. 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. State Street Corp grew its position in Home Depot by 0.4% in the first quarter. State Street Corp now owns 45,622,114 shares of the home improvement retailer’s stock worth $13,656,067,000 after acquiring an additional 180,532 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares in the last quarter. Norges Bank purchased a new position in Home Depot in the fourth quarter worth about $4,325,629,000. Fisher Asset Management LLC grew its position in Home Depot by 3.9% in the first quarter. Fisher Asset Management LLC now owns 8,134,863 shares of the home improvement retailer’s stock worth $2,435,009,000 after acquiring an additional 303,885 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Home Depot by 12.2% in the fourth quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer’s stock worth $2,166,946,000 after acquiring an additional 566,462 shares in the last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on HD. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday, September 7th. Evercore ISI decreased their price objective on shares of Home Depot to $360.00 in a research note on Thursday, June 9th. Truist Financial raised their price objective on shares of Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Wedbush raised their price objective on shares of Home Depot from $320.00 to $340.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 17th. Finally, UBS Group raised their price objective on shares of Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $365.95.
Home Depot Stock Performance
Shares of HD stock opened at $275.97 on Monday. The firm has a market cap 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 company’s 50 day moving average is $300.51 and its 200 day moving average is $300.96. 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 Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $420.61.
Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data 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 company had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. Home Depot’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $4.53 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.
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 dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Wednesday, August 31st. Home Depot’s payout ratio is 46.71%.
Home Depot announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 18th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Insider Activity at Home Depot
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 transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Matt Carey sold 12,650 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 34,522 shares in the company, valued at $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
Home Depot 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.
See Also
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