Garde Capital Inc. purchased a new position in shares of Home Depot Inc (NYSE:HD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,201 shares of the home improvement retailer’s stock, valued at approximately $301,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Price Wealth LLC lifted its position in Home Depot by 138.5% during the 2nd quarter. Price Wealth LLC now owns 124 shares of the home improvement retailer’s stock worth $31,000 after acquiring an additional 72 shares during the period. Selective Wealth Management Inc. raised its stake in shares of Home Depot by 243.9% during the 2nd quarter. Selective Wealth Management Inc. now owns 141 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 100 shares during the last quarter. Evolution Wealth Advisors LLC raised its stake in shares of Home Depot by 138.8% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 191 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 111 shares during the last quarter. NuWave Investment Management LLC purchased a new position in shares of Home Depot during the 2nd quarter valued at about $57,000. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Home Depot by 15.2% during the 1st quarter. Bay Harbor Wealth Management LLC now owns 318 shares of the home improvement retailer’s stock valued at $59,000 after buying an additional 42 shares during the last quarter. 69.00% of the stock is owned by institutional investors.
In other Home Depot news, EVP Teresa Wynn Roseborough sold 41,947 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.83, for a total transaction of $11,738,029.01. Also, EVP William G. Lennie sold 13,199 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $283.22, for a total value of $3,738,220.78. Following the transaction, the executive vice president now owns 49,736 shares in the company, valued at $14,086,229.92. The disclosure for this sale can be found here. Insiders sold 105,624 shares of company stock worth $29,429,883 over the last quarter. 0.26% of the stock is currently owned by insiders.
Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 18th. The home improvement retailer reported $4.02 EPS for the quarter, beating analysts’ consensus estimates of $3.20 by $0.82. Home Depot had a negative return on equity of 583.91% and a net margin of 9.91%. The firm had revenue of $38.05 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same period in the prior year, the firm posted $3.17 earnings per share. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, sell-side analysts predict that Home Depot Inc will post 11.3 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, September 2nd. Home Depot’s dividend payout ratio is presently 58.54%.
A number of research firms have weighed in on HD. Barclays lifted their price objective on Home Depot from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Oppenheimer started coverage on Home Depot in a research note on Tuesday, August 18th. They issued a “buy” rating and a $320.00 price target for the company. Telsey Advisory Group lifted their price target on Home Depot from $290.00 to $300.00 and gave the company a “market perform” rating in a research note on Wednesday, August 19th. Morgan Stanley lifted their price target on Home Depot from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Finally, Stifel Nicolaus lifted their price target on Home Depot from $260.00 to $276.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Home Depot currently has an average rating of “Buy” and an average price target of $286.88.
About Home Depot
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 provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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