North Point Portfolio Managers Corp OH lowered its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 21.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,762 shares of the home improvement retailer’s stock after selling 14,519 shares during the period. Home Depot comprises about 3.3% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 10th largest holding. North Point Portfolio Managers Corp OH’s holdings in Home Depot were worth $16,701,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BCK Partners Inc. bought a new position in shares of Home Depot in the 1st quarter valued at about $2,933,000. Fairfield Bush & CO. bought a new position in shares of Home Depot in the 1st quarter valued at about $27,000. Ergoteles LLC bought a new position in shares of Home Depot in the 1st quarter valued at about $1,554,000. Equitable Holdings Inc. grew its position in shares of Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after acquiring an additional 1,007 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Home Depot by 3.2% during the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after buying an additional 24,640 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.
Insider Buying and Selling at Home Depot
In related news, EVP Teresa Wynn Roseborough sold 6,091 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 22,749 shares in the company, valued at $7,375,680.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 transaction of $3,943,848.00. Following 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 available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 22,749 shares in the company, valued at approximately $7,375,680.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,811 shares of company stock worth $6,441,376. 0.19% of the stock is currently owned by company insiders.
Home Depot Stock Performance
Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.45 by $0.20. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The firm had revenue of $42.92 billion for the quarter, compared to analysts’ expectations of $42.19 billion. During the same quarter in the previous year, the company earned $5.05 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts expect that The Home Depot, Inc. will post 15.24 EPS for the current year.
Home Depot announced that its board has approved a stock repurchase program on Tuesday, August 15th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to buy up to 4.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Home Depot Dividend Announcement
The company 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 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Wednesday, August 30th. Home Depot’s payout ratio is 52.22%.
Wall Street Analyst Weigh In
HD has been the subject of a number of research reports. The Goldman Sachs Group raised their target price on shares of Home Depot from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of Home Depot in a research note on Wednesday, August 9th. Sanford C. Bernstein raised 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 note on Wednesday, August 16th. Argus cut their target price on shares of Home Depot from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, July 26th. Finally, StockNews.com upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research note on Saturday. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $339.27.
Read Our Latest Stock Analysis on Home Depot
Home Depot Profile
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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