Avity Investment Management Inc. Lowers Position in The Home Depot, Inc. (NYSE:HD)

Avity Investment Management Inc. trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 10.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 84,625 shares of the home improvement retailer’s stock after selling 10,350 shares during the period. Home Depot makes up approximately 2.4% of Avity Investment Management Inc.’s holdings, making the stock its 21st largest position. Avity Investment Management Inc.’s holdings in Home Depot were worth $23,210,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HD. DAGCO Inc. grew its holdings in Home Depot by 0.4% during the 1st quarter. DAGCO Inc. now owns 7,394 shares of the home improvement retailer’s stock valued at $2,276,000 after purchasing an additional 32 shares during the last quarter. Willow Creek Wealth Management Inc. grew its stake in Home Depot by 4.7% in the 4th quarter. Willow Creek Wealth Management Inc. now owns 736 shares of the home improvement retailer’s stock worth $305,000 after acquiring an additional 33 shares in the last quarter. Beam Wealth Advisors Inc. lifted its position in shares of Home Depot by 4.9% in the 1st quarter. Beam Wealth Advisors Inc. now owns 707 shares of the home improvement retailer’s stock worth $212,000 after purchasing an additional 33 shares during the period. Shaker Investments LLC OH lifted its position in shares of Home Depot by 1.0% in the 1st quarter. Shaker Investments LLC OH now owns 3,330 shares of the home improvement retailer’s stock worth $997,000 after purchasing an additional 33 shares during the period. Finally, Atticus Wealth Management LLC lifted its position in shares of Home Depot by 0.5% in the 1st quarter. Atticus Wealth Management LLC now owns 7,098 shares of the home improvement retailer’s stock worth $2,125,000 after purchasing an additional 34 shares during the period. 68.66% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.9 %

HD opened at $271.57 on Thursday. The firm has a 50 day moving average price of $299.86 and a 200 day moving average price of $299.78. The company has a market cap of $278.01 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.99. 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 quick ratio of 0.25 and a current ratio of 1.18.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the company earned $4.53 earnings per share. Home Depot’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $1.90 per share. This represents a $7.60 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Wednesday, August 31st. Home Depot’s dividend payout ratio (DPR) is presently 46.71%.

Home Depot announced that its board has initiated a share 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 typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

HD has been the subject of several research reports. Piper Sandler upped their price target on shares of Home Depot to $327.00 in a research report on Monday, August 22nd. Wedbush increased their target price on shares of Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a research report on Wednesday, August 17th. Raymond James increased their target price on shares of Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. MKM Partners started coverage on shares of Home Depot in a report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price target for the company. Finally, DA Davidson increased their price objective on shares of Home Depot to $334.00 in a research note on Monday, August 22nd. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $365.95.

Insider Buying and Selling

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 transaction, the executive vice president now directly owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Home Depot news, 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 sale, the executive vice president now directly owns 34,522 shares in the company, valued at $10,917,927.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fahim Siddiqui sold 1,000 shares of the firm’s 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. 0.17% of the stock is currently owned by company insiders.

Home Depot Company 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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