Capital Market Strategies LLC Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Capital Market Strategies LLC lowered its holdings in The Home Depot, Inc. (NYSE:HDGet Rating) by 1.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,954 shares of the home improvement retailer’s stock after selling 67 shares during the quarter. Home Depot accounts for about 1.7% of Capital Market Strategies LLC’s investment portfolio, making the stock its 10th largest position. Capital Market Strategies LLC’s holdings in Home Depot were worth $1,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Rinkey Investments acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new stake in shares of Home Depot during the 1st quarter worth approximately $25,000. Tobam acquired a new stake in shares of Home Depot during the 1st quarter worth approximately $27,000. Fairfield Bush & CO. acquired a new stake in Home Depot in the 1st quarter valued at $27,000. Finally, Clear Perspectives Financial Planning LLC boosted its stake 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 valued at $28,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 68.66% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $275.97 on Monday. 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 stock’s 50 day moving average price is $300.51 and its two-hundred day moving average price is $300.96. The firm has a market capitalization of $282.52 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 1.48 and a beta of 0.99. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61.

Home Depot (NYSE:HDGet Rating) last announced its earnings results 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 company had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.53 earnings per share. On average, analysts anticipate that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid 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 dividend payout ratio (DPR) is currently 46.71%.

Home Depot announced that its board has approved a share repurchase program 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 buy up to 4.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on HD shares. Robert W. Baird boosted their price target on Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, August 16th. Truist Financial boosted their price target on Home Depot from $375.00 to $399.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Morgan Stanley lifted their price objective on Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. UBS Group lifted their price objective on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Finally, Raymond James lifted their price objective on Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $365.95.

Insider Transactions 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 sale, the executive vice president now 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 available at this link. In other 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 value 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 approximately $1,857,646.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of the firm’s 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 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 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.

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

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