D L Carlson Investment Group Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 41.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,520 shares of the home improvement retailer’s stock after selling 8,780 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Home Depot were worth $3,695,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of HD. Slow Capital Inc. bought a new position in Home Depot in the first quarter valued at approximately $25,000. Kalos Management Inc. acquired a new stake in shares of Home Depot in the 1st quarter valued at $26,000. Fairfield Bush & CO. bought a new position in shares of Home Depot in the 1st quarter valued at $27,000. KB Financial Partners LLC acquired a new position in shares of Home Depot during the 1st quarter worth $28,000. Finally, Studio Investment Management LLC bought a new stake in shares of Home Depot during the 4th quarter worth $32,000. Institutional investors own 68.34% of the company’s stock.
Home Depot Trading Down 0.6 %
NYSE HD opened at $326.26 on Wednesday. The stock has a market capitalization of $326.28 billion, a P/E ratio of 20.38, a P/E/G ratio of 2.27 and a beta of 0.95. The business has a 50 day simple moving average of $324.69 and a 200 day simple moving average of $304.73. The company has a debt-to-equity ratio of 30.53, a current ratio of 1.31 and a quick ratio of 0.35. The Home Depot, Inc. has a one year low of $265.61 and a one year high of $347.25.
Home Depot Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st will be given a dividend of $2.09 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.56%. Home Depot’s dividend payout ratio (DPR) is presently 52.22%.
Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 15th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on HD. Sanford C. Bernstein lifted their target price on Home Depot from $314.00 to $328.00 and gave the company a “market perform” rating in a research report on Wednesday, August 16th. Barclays lifted their price target on shares of Home Depot from $310.00 to $333.00 and gave the company an “equal weight” rating in a report on Tuesday, August 15th. Evercore ISI increased their price objective on shares of Home Depot from $360.00 to $370.00 and gave the company an “outperform” rating in a research note on Friday, September 8th. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $321.00 to $335.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Wednesday, August 9th. Thirteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $339.62.
View Our Latest Analysis on Home Depot
Insider Activity
In related news, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the transaction, the executive vice president now directly owns 22,749 shares of the company’s stock, valued at approximately $7,375,680.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Home Depot news, CAO Kimberly R. Scardino sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total transaction of $522,704.00. Following the completion of the sale, the chief accounting officer now directly owns 8,281 shares of the company’s stock, valued at approximately $2,705,319.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total value of $1,974,824.02. Following the completion of the transaction, the executive vice president now owns 22,749 shares in the company, valued at approximately $7,375,680.78. The disclosure for this sale can be found here. Insiders sold a total of 19,811 shares of company stock worth $6,441,376 in the last three months. Company insiders own 0.19% of the company’s stock.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.
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