MJP Associates Inc. ADV Has $1.11 Million Stake in The Home Depot, Inc. (NYSE:HD)

MJP Associates Inc. ADV boosted its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 11.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,053 shares of the home improvement retailer’s stock after buying an additional 428 shares during the quarter. MJP Associates Inc. ADV’s holdings in Home Depot were worth $1,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HD. Norges Bank acquired a new position in Home Depot during the 4th quarter worth about $4,325,629,000. Renaissance Technologies LLC acquired a new position in Home Depot during the 1st quarter worth about $563,524,000. Parnassus Investments LLC acquired a new position in Home Depot during the 1st quarter worth about $542,084,000. Charles Schwab Investment Management Inc. lifted its holdings in Home Depot by 14.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after buying an additional 1,361,660 shares during the period. Finally, Aaron Wealth Advisors LLC lifted its holdings in Home Depot by 25,355.1% during the 1st quarter. Aaron Wealth Advisors LLC now owns 695,942 shares of the home improvement retailer’s stock worth $2,325,000 after buying an additional 693,208 shares during the period. 68.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Piper Sandler lifted their price objective on Home Depot to $327.00 in a research report on Monday, August 22nd. DA Davidson lifted their price objective on Home Depot to $334.00 in a research report on Monday, August 22nd. JPMorgan Chase & Co. lowered their price objective on Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research report on Tuesday, August 9th. Finally, Evercore ISI lowered their price objective on Home Depot to $360.00 in a research report on Thursday, June 9th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $365.95.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Fahim Siddiqui sold 1,000 shares of the company’s stock in a transaction that occurred 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 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 document filed with the SEC, which is available through the SEC website. Also, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the transaction, the executive vice president now owns 34,522 shares in the company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $275.97 on Monday. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18. The stock has a 50 day moving average price of $300.51 and a two-hundred day moving average price of $300.96. The firm has a market capitalization of $282.52 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.48 and a beta of 0.99. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The firm had revenue of $43.79 billion during the quarter, compared to analyst estimates of $43.33 billion. During the same period in the previous year, the company posted $4.53 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 16.56 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $1.90 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.75%. Home Depot’s payout ratio is presently 46.71%.

Home Depot announced that its board has initiated a stock repurchase program on Thursday, August 18th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Home Depot Company Profile

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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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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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