Benson Investment Management Company Inc. Buys 115 Shares of The Home Depot, Inc. (NYSE:HD)

Benson Investment Management Company Inc. grew its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 0.8% in the second quarter, HoldingsChannel.com reports. The fund owned 15,315 shares of the home improvement retailer’s stock after acquiring an additional 115 shares during the quarter. Home Depot comprises about 2.6% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its 14th biggest position. Benson Investment Management Company Inc.’s holdings in Home Depot were worth $4,179,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Rinkey Investments bought a new stake in shares of Home Depot during the 4th quarter worth $25,000. GW&K Investment Management LLC bought a new stake in shares of Home Depot during the 1st quarter worth $25,000. Tobam bought a new stake in shares of Home Depot during the 1st quarter worth $27,000. Fairfield Bush & CO. bought a new stake in shares of Home Depot during the 1st quarter worth $27,000. Finally, Clear Perspectives Financial Planning LLC increased its holdings in Home Depot by 135.0% in the 1st 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. 68.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HD. 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 report on Tuesday, August 16th. MKM Partners began coverage on Home Depot in a report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 target price for the company. Piper Sandler upped their target price on Home Depot to $327.00 in a report on Monday, August 22nd. Wedbush upped their target price on Home Depot from $320.00 to $340.00 and gave the stock a “neutral” rating in a report on Wednesday, August 17th. Finally, JPMorgan Chase & Co. lowered their target price on Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $365.95.

Insiders Place Their Bets

In other news, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Fahim Siddiqui sold 1,000 shares of the firm’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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matt Carey sold 12,650 shares of the firm’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. Corporate insiders own 0.17% of the company’s stock.

Home Depot Trading Down 0.9 %

NYSE HD opened at $269.14 on Friday. The business has a 50 day simple moving average of $299.46 and a 200 day simple moving average of $299.57. The stock has a market capitalization of $275.53 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.47 and a beta of 0.99. The company has a debt-to-equity ratio of 165.70, a current ratio of 1.18 and a quick ratio of 0.25. The Home Depot, Inc. has a one year low of $264.51 and a one year high of $420.61.

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

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $1.90 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 annualized dividend and a yield of 2.82%. Home Depot’s payout ratio is currently 46.71%.

Home Depot announced that its Board of Directors has approved a share buyback program on Thursday, August 18th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to repurchase up to 4.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management 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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