Edmond DE Rothschild Holding S.A. grew its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 10.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,235 shares of the home improvement retailer’s stock after purchasing an additional 5,935 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Home Depot were worth $17,343,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in HD. Grayhawk Investment Strategies Inc. acquired a new position in shares of Home Depot during the second quarter worth $28,000. GW&K Investment Management LLC acquired a new position in Home Depot in the 1st quarter worth about $25,000. Mizuho Securities Co. Ltd. raised its position in Home Depot by 119.5% in the second quarter. Mizuho Securities Co. Ltd. now owns 90 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 49 shares during the last quarter. Fairfield Bush & CO. acquired a new stake in shares of Home Depot during the first quarter valued at about $27,000. Finally, Clear Perspectives Financial Planning LLC grew its holdings in shares of Home Depot by 135.0% during the first quarter. Clear Perspectives Financial Planning LLC now owns 94 shares of the home improvement retailer’s stock worth $28,000 after purchasing an additional 54 shares during the last quarter. 68.66% of the stock is currently owned by institutional investors and hedge funds.
In other Home Depot news, Director Paula Santilli acquired 1,583 shares of the business’s stock in a transaction on Wednesday, November 16th. The shares were acquired at an average price of $315.80 per share, with a total value of $499,911.40. Following the completion of the transaction, the director now owns 1,583 shares in the company, valued at $499,911.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Fahim Siddiqui sold 2,000 shares of the stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $311.29, for a total transaction of $622,580.00. Following the completion of the transaction, the executive vice president now directly owns 3,928 shares of the company’s stock, valued at approximately $1,222,747.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paula Santilli purchased 1,583 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was bought at an average cost of $315.80 per share, for a total transaction of $499,911.40. Following the acquisition, the director now directly owns 1,583 shares in the company, valued at approximately $499,911.40. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by corporate insiders.
Home Depot Stock Down 1.0 %
Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings data on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.11 by $0.13. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The firm had revenue of $38.87 billion for the quarter, compared to the consensus estimate of $37.96 billion. During the same period in the previous year, the firm earned $3.92 EPS. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 16.64 earnings per share for the current fiscal year.
Home Depot announced that its Board of Directors has initiated a stock buyback plan on Thursday, August 18th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Home Depot Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a $1.90 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.36%. Home Depot’s payout ratio is presently 45.81%.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Home Depot from $347.00 to $300.00 in a research report on Friday, November 11th. Exane BNP Paribas cut shares of Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 price objective on the stock. in a research note on Wednesday, October 19th. Wedbush lowered their target price on Home Depot to $280.00 in a research report on Wednesday, November 16th. MKM Partners decreased their price target on Home Depot from $330.00 to $312.00 in a research note on Wednesday, November 9th. Finally, Piper Sandler cut their price objective on Home Depot from $327.00 to $323.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 16th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $346.29.
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 facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.
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