Cottage Street Advisors LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 2.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,118 shares of the home improvement retailer’s stock after selling 261 shares during the period. Home Depot accounts for approximately 3.0% of Cottage Street Advisors LLC’s holdings, making the stock its 10th biggest position. Cottage Street Advisors LLC’s holdings in Home Depot were worth $4,075,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Home Depot by 99,916.0% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 870,320,643 shares of the home improvement retailer’s stock valued at $270,356,404,000 after purchasing an additional 869,450,462 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Home Depot by 1.2% during the 1st quarter. BlackRock Inc. now owns 77,137,759 shares of the home improvement retailer’s stock valued at $22,764,896,000 after purchasing an additional 878,220 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 0.7% during the 1st quarter. Geode Capital Management LLC now owns 19,135,000 shares of the home improvement retailer’s stock valued at $5,635,031,000 after purchasing an additional 126,981 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Home Depot by 10.0% during the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after purchasing an additional 1,698,402 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Home Depot by 6.3% during the 1st quarter. Wellington Management Group LLP now owns 15,718,744 shares of the home improvement retailer’s stock valued at $4,638,916,000 after purchasing an additional 925,962 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Morgan Stanley increased their price target on shares of Home Depot from $320.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. Wells Fargo & Company increased their price target on shares of Home Depot from $345.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. DA Davidson increased their price target on shares of Home Depot from $290.00 to $320.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. The Goldman Sachs Group increased their price target on shares of Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, Oppenheimer reissued an “outperform” rating and issued a $360.00 price objective on shares of Home Depot in a research note 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $339.27.
Home Depot Stock Performance
Shares of HD stock opened at $292.82 on Monday. The firm has a market cap of $292.84 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.03 and a beta of 0.96. The Home Depot, Inc. has a 52-week low of $267.86 and a 52-week high of $347.25. The company has a quick ratio of 0.35, a current ratio of 1.31 and a debt-to-equity ratio of 30.53. The company’s 50 day moving average is $320.63 and its 200 day 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 for the quarter, beating the consensus estimate of $4.45 by $0.20. The company had revenue of $42.92 billion during the quarter, compared to the consensus estimate of $42.19 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. Home Depot’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm earned $5.05 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.24 EPS for the current fiscal year.
Home Depot Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were paid a $2.09 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $8.36 annualized dividend and a yield of 2.85%. Home Depot’s dividend payout ratio (DPR) is 52.22%.
Home Depot announced that its Board of Directors has authorized a share 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 purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Home Depot
In other Home Depot news, 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 sale, the executive vice president now directly owns 22,749 shares in the company, valued at $7,375,680.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Kimberly R. Scardino sold 1,600 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total transaction of $522,704.00. Following the sale, the chief accounting officer now directly owns 8,281 shares of the company’s stock, valued at $2,705,319.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the sale, the executive vice president now directly owns 22,749 shares in the company, valued at $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 over the last three months. Corporate 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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