Exchange Capital Management Inc. Sells 180 Shares of The Home Depot, Inc. (NYSE:HD)

Posted by Defense World Staff on Oct 9th, 2023

Exchange Capital Management Inc. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,412 shares of the home improvement retailer’s stock after selling 180 shares during the quarter. Home Depot comprises 1.1% of Exchange Capital Management Inc.’s investment portfolio, making the stock its 28th largest position. Exchange Capital Management Inc.’s holdings in Home Depot were worth $5,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. MBM Wealth Consultants LLC increased its stake in Home Depot by 16.6% in the second quarter. MBM Wealth Consultants LLC now owns 3,251 shares of the home improvement retailer’s stock valued at $1,032,000 after acquiring an additional 462 shares during the last quarter. Prossimo Advisors LLC purchased a new position in shares of Home Depot in the 2nd quarter worth about $1,819,000. Werba Rubin Papier Wealth Management bought a new position in shares of Home Depot during the 2nd quarter valued at about $308,000. McBroom & Associates LLC raised its holdings in shares of Home Depot by 3.4% during the 2nd quarter. McBroom & Associates LLC now owns 14,999 shares of the home improvement retailer’s stock valued at $4,659,000 after buying an additional 498 shares in the last quarter. Finally, Calton & Associates Inc. lifted its position in Home Depot by 6.4% in the 2nd quarter. Calton & Associates Inc. now owns 7,240 shares of the home improvement retailer’s stock worth $2,249,000 after buying an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 12,120 shares of Home Depot stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the sale, the executive vice president now owns 73,049 shares of the company’s stock, valued at $23,770,144.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Timothy A. Hourigan sold 12,120 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $325.40, for a total value of $3,943,848.00. Following the completion of the sale, the executive vice president now owns 73,049 shares in the company, valued at approximately $23,770,144.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of Home Depot stock in a transaction 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 $7,375,680.78. The disclosure for this sale can be found here. Insiders have sold a total of 19,811 shares of company stock worth $6,441,376 over the last quarter. Company insiders own 0.19% of the company’s stock.

Home Depot Stock Up 0.4 %

Shares of HD opened at $292.82 on Monday. 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 stock has a market capitalization of $292.84 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 2.03 and a beta of 0.96. The Home Depot, Inc. has a 1 year low of $267.86 and a 1 year high of $347.25. The business’s 50 day simple moving average is $320.63 and its 200-day simple moving average is $306.78.

Home Depot (NYSE:HD – Get Free Report) last announced its earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.45 by $0.20. The firm had revenue of $42.92 billion for the quarter, compared to analysts’ expectations of $42.19 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.05 EPS. As a group, equities analysts expect that The Home Depot, Inc. will post 15.24 earnings per share for the current fiscal year.

Home Depot declared that its board has initiated a share repurchase program on Tuesday, August 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were given a $2.09 dividend. This represents a $8.36 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, August 30th. Home Depot’s dividend payout ratio (DPR) is presently 52.22%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Loop Capital increased their price target on shares of Home Depot from $300.00 to $315.00 and gave the company a “hold” rating in a research report on Wednesday, August 16th. Sanford C. Bernstein lifted their target price on shares of Home Depot from $314.00 to $328.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 16th. Guggenheim upped their price target on shares of Home Depot from $320.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $321.00 to $335.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Finally, Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of Home Depot in a report on Wednesday, August 9th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $339.27.

Read Our Latest Stock Analysis on HD

Home Depot Profile

(Free Report)

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.