Greylin Investment Mangement Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Greylin Investment Mangement Inc. lowered its holdings in The Home Depot, Inc. (NYSE:HDGet Rating) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,037 shares of the home improvement retailer’s stock after selling 1,430 shares during the period. Home Depot makes up about 0.8% of Greylin Investment Mangement Inc.’s holdings, making the stock its 25th biggest position. Greylin Investment Mangement Inc.’s holdings in Home Depot were worth $4,124,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in Home Depot by 0.4% in the 1st quarter. State Street Corp now owns 45,622,114 shares of the home improvement retailer’s stock valued at $13,656,067,000 after buying an additional 180,532 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Home Depot by 14.5% during 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 purchasing an additional 1,361,660 shares in the last quarter. Norges Bank purchased a new position in shares of Home Depot during the 4th quarter valued at $4,325,629,000. Fisher Asset Management LLC grew its position in shares of Home Depot by 3.9% during the 1st quarter. Fisher Asset Management LLC now owns 8,134,863 shares of the home improvement retailer’s stock valued at $2,435,009,000 after purchasing an additional 303,885 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Home Depot by 12.2% during the 4th quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer’s stock valued at $2,166,946,000 after purchasing an additional 566,462 shares in the last quarter. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction dated 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 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 legal filing with the SEC, which is available through this link. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the sale, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 34,522 shares in the company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.

Home Depot Stock Performance

Shares of NYSE:HD opened at $275.97 on Monday. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61. The company 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. The company has a 50-day moving average price of $300.51 and a 200-day moving average price of $300.96. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70.

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

Home Depot announced that its board has approved a share buyback plan on Thursday, August 18th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Wednesday, August 31st. Home Depot’s payout ratio is currently 46.71%.

Analyst Ratings Changes

A number of research firms have recently commented on HD. Guggenheim boosted their price target on shares of Home Depot from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. JPMorgan Chase & Co. cut their target price 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. Truist Financial upped their target price on shares of Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. DA Davidson upped their target price on shares of Home Depot to $334.00 in a research report on Monday, August 22nd. Finally, Piper Sandler upped their target price on shares of Home Depot to $327.00 in a research report on Monday, August 22nd. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.95.

About Home Depot

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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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