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

Capital Market Strategies LLC trimmed its stake in The Home Depot, Inc. (NYSE:HDGet Rating) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,954 shares of the home improvement retailer’s stock after selling 67 shares during the period. 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 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HD. Norges Bank bought a new position in shares of Home Depot in the 4th quarter valued at approximately $4,325,629,000. Renaissance Technologies LLC acquired a new stake in Home Depot in the 1st quarter valued at approximately $563,524,000. Parnassus Investments LLC acquired a new stake in Home Depot in the 1st quarter valued at approximately $542,084,000. Charles Schwab Investment Management Inc. grew its holdings in 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 holdings in 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. 68.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP Matt Carey sold 12,650 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 of the company’s stock, valued at approximately $1,857,646.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction dated 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 completion of 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. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Wedbush raised 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. UBS Group raised their target price on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Piper Sandler lifted their price objective on Home Depot to $327.00 in a report on Monday, August 22nd. Robert W. Baird lifted their price objective on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Tuesday, August 16th. Finally, Guggenheim lifted their price objective on Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a 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 stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $365.95.

Home Depot Trading Up 1.6 %

HD stock opened at $275.97 on Monday. The company has a market cap of $282.52 billion, a P/E ratio of 16.96, a PEG ratio of 1.48 and a beta of 0.99. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $420.61. 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 business has a fifty day moving average of $300.51 and a 200-day moving average of $300.96.

Home Depot (NYSE:HDGet Rating) last released its quarterly earnings data 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. 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 the consensus estimate of $43.33 billion. During the same quarter in the prior year, the company posted $4.53 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that The Home Depot, Inc. will post 16.56 EPS for the current year.

Home Depot declared that its board has initiated a share repurchase plan on Thursday, August 18th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to buy up to 4.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Home Depot Dividend Announcement

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

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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