Handelsbanken Fonder AB increased its position in Home Depot Inc (NYSE:HD) by 77.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 514,072 shares of the home improvement retailer’s stock after buying an additional 223,928 shares during the quarter. Home Depot accounts for 1.1% of Handelsbanken Fonder AB’s portfolio, making the stock its 14th largest position. Handelsbanken Fonder AB’s holdings in Home Depot were worth $128,780,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its holdings in Home Depot by 8.6% in the second quarter. Sequoia Financial Advisors LLC now owns 23,239 shares of the home improvement retailer’s stock worth $5,822,000 after acquiring an additional 1,837 shares in the last quarter. Stephens Inc. AR boosted its holdings in Home Depot by 5.9% in the second quarter. Stephens Inc. AR now owns 68,431 shares of the home improvement retailer’s stock worth $17,143,000 after acquiring an additional 3,804 shares in the last quarter. Fiduciary Planning LLC boosted its holdings in Home Depot by 10.8% in the second quarter. Fiduciary Planning LLC now owns 5,660 shares of the home improvement retailer’s stock worth $1,503,000 after acquiring an additional 552 shares in the last quarter. Cypress Capital LLC bought a new stake in Home Depot in the second quarter worth $1,144,000. Finally, Rockbridge Investment Management LCC bought a new stake in Home Depot in the second quarter worth $117,000. Institutional investors own 69.00% of the company’s stock.
Several research firms have commented on HD. Goldman Sachs Group boosted their target price on Home Depot from $265.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. CSFB boosted their target price on Home Depot from $215.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Bank of America raised Home Depot from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $290.00 to $330.00 in a report on Wednesday, August 19th. BofA Securities raised Home Depot from a “neutral” rating to a “buy” rating and upped their price target for the company from $290.00 to $330.00 in a report on Wednesday, August 19th. Finally, Truist Financial upped their price target on Home Depot from $240.00 to $300.00 in a report on Wednesday, August 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $286.88.
Shares of NYSE:HD traded up $4.30 during trading on Tuesday, hitting $284.95. 218,786 shares of the company’s stock were exchanged, compared to its average volume of 5,211,763. Home Depot Inc has a 52-week low of $140.63 and a 52-week high of $292.95. The business’s 50-day simple moving average is $276.39 and its 200 day simple moving average is $238.98. The company has a market cap of $302.11 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.09 and a beta of 1.09.
Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $32.13 billion. During the same quarter last year, the business posted $3.17 earnings per share. The firm’s revenue was up 23.4% on a year-over-year basis. Research analysts expect that Home Depot Inc will post 11.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, September 2nd. Home Depot’s dividend payout ratio is currently 58.54%.
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.
Further Reading: What are gap-down stocks?
Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.