Integrated Advisors Network LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 46.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,712 shares of the home improvement retailer’s stock after selling 23,295 shares during the period. Integrated Advisors Network LLC’s holdings in Home Depot were worth $7,326,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of HD. GW&K Investment Management LLC purchased a new position in shares of Home Depot during the first quarter worth about $25,000. Fairfield Bush & CO. purchased a new position in shares of Home Depot during the first quarter worth about $27,000. 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 in the last quarter. Grayhawk Investment Strategies Inc. purchased a new position in shares of Home Depot during the second quarter worth about $28,000. Finally, Swaine & Leidel Wealth Services LLC purchased a new position in shares of Home Depot during the first quarter worth about $30,000. 68.66% of the stock is currently owned by institutional investors.
Home Depot Trading Down 1.0 %
Shares of Home Depot stock traded down $3.37 during midday trading on Thursday, reaching $321.51. 4,243,427 shares of the company’s stock traded hands, compared to its average volume of 4,538,733. The stock has a 50 day moving average of $288.63 and a 200-day moving average of $292.78. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.33 and a current ratio of 1.39. The company has a market cap of $329.14 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.74 and a beta of 0.95. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61.
Home Depot announced that its board has approved a share repurchase program on Thursday, August 18th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Home Depot Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued 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 yield of 2.36%. Home Depot’s dividend payout ratio (DPR) is 45.81%.
Insiders Place Their Bets
In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the completion of the transaction, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Fahim Siddiqui sold 1,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $300.59, for a total value of $300,590.00. Following the sale, the executive vice president now directly owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paula Santilli bought 1,583 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now owns 1,583 shares of the company’s stock, valued at approximately $499,911.40. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have issued reports on HD shares. Robert W. Baird upped their target price on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 16th. JPMorgan Chase & Co. cut their target price on Home Depot from $347.00 to $300.00 in a research note on Friday, November 11th. Wedbush cut their target price on Home Depot to $280.00 in a research note on Wednesday, November 16th. Cowen started coverage on Home Depot in a research note on Wednesday, October 19th. They issued an “outperform” rating and a $350.00 target price for the company. Finally, Cowen started coverage on Home Depot in a research note on Wednesday, October 19th. They issued an “outperform” rating for the company. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.29.
Home Depot Profile
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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