Murphy Capital Management Inc. Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Murphy Capital Management Inc. lowered its holdings in The Home Depot, Inc. (NYSE:HDGet Rating) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,667 shares of the home improvement retailer’s stock after selling 995 shares during the period. Home Depot comprises 1.8% of Murphy Capital Management Inc.’s holdings, making the stock its 12th largest position. Murphy Capital Management Inc.’s holdings in Home Depot were worth $12,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HD. DAGCO Inc. lifted its stake in Home Depot by 0.4% in the first quarter. DAGCO Inc. now owns 7,394 shares of the home improvement retailer’s stock worth $2,276,000 after purchasing an additional 32 shares during the last quarter. Willow Creek Wealth Management Inc. lifted 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 worth $305,000 after purchasing an additional 33 shares during the last quarter. Beam Wealth Advisors Inc. lifted 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 worth $212,000 after purchasing an additional 33 shares during the last quarter. Shaker Investments LLC OH lifted its stake in Home Depot by 1.0% in 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 last quarter. Finally, Atticus Wealth Management LLC lifted its stake in Home Depot by 0.5% in 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 last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.

Home Depot Trading Down 0.9 %

Shares of NYSE HD opened at $269.14 on Friday. The firm’s 50 day moving average price is $299.46 and its 200-day moving average price is $299.57. The company has a market cap of $275.53 billion, a PE ratio of 16.54, a P/E/G ratio of 1.47 and a beta of 0.99. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week 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 earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.95 by $0.10. The firm had revenue of $43.79 billion for the quarter, compared to the consensus estimate of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The business’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.53 earnings per share. On average, equities research analysts expect that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $1.90 per share. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis 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 initiated a share buyback program on Thursday, August 18th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research note on Tuesday, August 9th. Guggenheim boosted their price target on shares of Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. UBS Group boosted their price objective on shares of Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. DA Davidson boosted their price objective on shares of Home Depot to $334.00 in a research report on Monday, August 22nd. Finally, Raymond James boosted their price objective 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. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $365.95.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 1,000 shares of the 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 $1,857,646.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 completion of the sale, the executive vice president now directly owns 34,522 shares of the company’s stock, valued at $10,917,927.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The disclosure for this sale can be found here. 0.17% of the stock is owned by 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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