180 Wealth Advisors LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,795 shares of the home improvement retailer’s stock after selling 488 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Home Depot were worth $1,617,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in HD. Norges Bank acquired a new position in shares of Home Depot in the fourth quarter worth about $4,325,629,000. Renaissance Technologies LLC acquired a new position in shares of Home Depot in the first quarter worth about $563,524,000. Parnassus Investments LLC acquired a new position in shares of Home Depot in the first quarter worth about $542,084,000. Charles Schwab Investment Management Inc. raised its position in shares of 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 during the period. Finally, Aaron Wealth Advisors LLC raised its position in shares of Home Depot by 25,355.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 695,942 shares of the home improvement retailer’s stock worth $2,325,000 after purchasing an additional 693,208 shares during the last quarter. 68.66% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the stock. UBS Group upped their price target on shares of Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. MKM Partners assumed coverage on shares of Home Depot in a research report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price target for the company. Raymond James upped their price target on shares of Home Depot from $340.00 to $350.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. JPMorgan Chase & Co. reduced their price target on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research report on Tuesday, August 9th. Finally, Wedbush upped their price target on shares of Home Depot from $320.00 to $340.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $365.95.
Insider Buying and Selling
Home Depot Stock Performance
Home Depot stock opened at $275.97 on Monday. The firm has a 50 day simple moving average of $300.51 and a 200-day simple moving average of $300.96. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61. 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 stock has a market cap of $282.52 billion, a price-to-earnings 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 posted its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.10. The firm had revenue of $43.79 billion during the quarter, compared to analysts’ expectations of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted $4.53 EPS. On average, analysts expect that The Home Depot, Inc. will post 16.56 EPS for the current year.
Home Depot Announces Dividend
The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.75%. Home Depot’s payout ratio is currently 46.71%.
Home Depot announced that its board has initiated a share buyback program on Thursday, August 18th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
About Home Depot
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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