Castle Rock Wealth Management LLC Has $2.29 Million Position in The Home Depot, Inc. (NYSE:HD)

Castle Rock Wealth Management LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,003 shares of the home improvement retailer’s stock after selling 337 shares during the quarter. Home Depot accounts for 1.2% of Castle Rock Wealth Management LLC’s portfolio, making the stock its 13th largest position. Castle Rock Wealth Management LLC’s holdings in Home Depot were worth $2,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of HD. State Street Corp increased its stake in shares of Home Depot by 0.4% in the first 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. increased its stake in shares of Home Depot by 14.5% in the first 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 in the last quarter. Norges Bank acquired a new stake in shares of Home Depot in the fourth quarter valued at $4,325,629,000. Fisher Asset Management LLC increased its stake in shares of Home Depot by 3.9% in the first 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 buying an additional 303,885 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Home Depot by 12.2% in the fourth quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer’s stock valued at $2,166,946,000 after acquiring an additional 566,462 shares during the last quarter. 68.66% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.9 %

NYSE:HD opened at $269.14 on Friday. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $420.61. 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 stock has a market capitalization of $275.53 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The business’s 50-day simple moving average is $299.46 and its 200-day simple moving average is $299.57.

Home Depot (NYSE:HDGet Rating) last released its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $43.33 billion. During the same quarter in the previous year, the business posted $4.53 EPS. 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 fiscal year.

Home Depot declared that its Board of Directors has approved a stock buyback program on Thursday, August 18th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Wednesday, August 31st. Home Depot’s dividend payout ratio is presently 46.71%.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction that occurred 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 owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot 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 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 is accessible through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction that occurred 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 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 insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group raised their price target 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 raised their price target on Home Depot to $327.00 in a report on Monday, August 22nd. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday. Wedbush raised their price target on Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, August 17th. Finally, MKM Partners assumed coverage on Home Depot in a report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $365.95.

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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