Lowe Wealth Advisors LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Lowe Wealth Advisors LLC lifted its stake in The Home Depot, Inc. (NYSE:HDGet Rating) by 34.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 393 shares of the home improvement retailer’s stock after buying an additional 100 shares during the quarter. Lowe Wealth Advisors LLC’s holdings in Home Depot were worth $108,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HD. Rinkey Investments acquired a new position in Home Depot in the 4th quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in Home Depot in the 1st quarter worth about $25,000. Tobam acquired a new position in Home Depot in the 1st quarter worth about $27,000. Fairfield Bush & CO. acquired a new position in Home Depot in the 1st quarter worth about $27,000. Finally, Clear Perspectives Financial Planning LLC raised its holdings 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. Institutional investors and hedge funds own 68.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HD. MKM Partners began coverage on Home Depot in a report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 target price for the company. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. Wedbush increased their target price on Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, August 17th. DA Davidson increased their target price on Home Depot to $334.00 in a report on Monday, August 22nd. Finally, Piper Sandler increased their target price on Home Depot to $327.00 in a report on Monday, August 22nd. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $365.95.

Home Depot Trading Up 1.6 %

Shares of Home Depot stock opened at $275.97 on Friday. The firm has a market capitalization of $282.52 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.46 and a beta of 0.99. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $420.61. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18. The stock has a 50 day moving average of $300.51 and a 200 day moving average of $301.06.

Home Depot (NYSE:HDGet Rating) last released its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, topping the consensus estimate of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The business had revenue of $43.79 billion during the quarter, compared to analyst estimates of $43.33 billion. During the same period last year, the business posted $4.53 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared 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. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 annualized dividend and a dividend yield of 2.75%. Home Depot’s dividend payout ratio is currently 46.71%.

Home Depot announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 1,000 shares of the firm’s 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 in the company, valued at $1,857,646.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Matt Carey sold 12,650 shares of the stock in a transaction on Monday, August 22nd. The stock was 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 $10,917,927.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 1,000 shares of the 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 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. Company insiders own 0.17% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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