Bridge Advisory LLC Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Bridge Advisory LLC boosted its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,471 shares of the home improvement retailer’s stock after acquiring an additional 154 shares during the quarter. Bridge Advisory LLC’s holdings in Home Depot were worth $704,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. DAGCO Inc. boosted its position in shares of Home Depot by 0.4% during the first quarter. DAGCO Inc. now owns 7,394 shares of the home improvement retailer’s stock worth $2,276,000 after buying an additional 32 shares during the period. Willow Creek Wealth Management Inc. raised its stake in Home Depot by 4.7% in the fourth quarter. Willow Creek Wealth Management Inc. now owns 736 shares of the home improvement retailer’s stock valued at $305,000 after buying an additional 33 shares during the period. Beam Wealth Advisors Inc. raised its stake in Home Depot by 4.9% in the first quarter. Beam Wealth Advisors Inc. now owns 707 shares of the home improvement retailer’s stock valued at $212,000 after buying an additional 33 shares during the period. Shaker Investments LLC OH increased its stake in shares of Home Depot by 1.0% during the first 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 increased its stake in shares of Home Depot by 0.5% during the first 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. Institutional investors and hedge funds own 68.66% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. Guggenheim increased their price target on Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler increased their price target on Home Depot to $327.00 in a research note on Monday, August 22nd. Truist Financial raised their target price on Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Finally, DA Davidson raised their target price on Home Depot to $334.00 in a research report on Monday, August 22nd. 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 an average rating of “Moderate Buy” and an average price target of $365.95.

Home Depot Stock Down 0.9 %

Shares of HD stock opened at $269.14 on Friday. 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 company has a market capitalization of $275.53 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.47 and a beta of 0.99. The company’s fifty day moving average price is $299.46 and its 200-day moving average price is $299.57. The Home Depot, Inc. has a one year low of $264.51 and a one year high of $420.61.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 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 business had revenue of $43.79 billion during the quarter, compared to analysts’ expectations of $43.33 billion. During the same period last year, the company posted $4.53 EPS. The business’s revenue was up 6.5% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 annualized dividend and a yield of 2.82%. Home Depot’s dividend payout ratio (DPR) is 46.71%.

Home Depot announced that its Board of Directors has approved a share buyback plan on Thursday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows 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 leadership believes its shares are undervalued.

Insider Buying and Selling at Home Depot

In other news, EVP Matt Carey sold 12,650 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Home Depot news, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were 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 approximately $10,917,927.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the transaction, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. 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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