Cambridge Investment Research Advisors Inc. Increases Position in The Home Depot, Inc. (NYSE:HD)

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 4.4% in the 2nd quarter, Holdings Channel reports. The fund owned 225,078 shares of the home improvement retailer’s stock after acquiring an additional 9,491 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Home Depot were worth $61,732,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $4,325,629,000. Renaissance Technologies LLC purchased a new position in shares of Home Depot during the 1st quarter worth approximately $563,524,000. Parnassus Investments LLC purchased a new position in shares of Home Depot during the 1st quarter worth approximately $542,084,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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 purchasing an additional 1,361,660 shares during the period. Finally, Aaron Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 693,208 shares during the period. Hedge funds and other institutional investors own 68.66% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on HD. MKM Partners began coverage on shares of Home Depot in a research report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price objective for the company. Guggenheim increased their price objective on shares of Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. UBS Group increased their target price on shares of Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Raymond James increased their target price on shares of Home Depot from $340.00 to $350.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Finally, Evercore ISI reduced their target price on shares of Home Depot to $360.00 in a report on Thursday, June 9th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $365.95.

Home Depot Trading Down 0.9 %

Shares of Home Depot stock opened at $269.14 on Friday. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. 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 company has a market capitalization of $275.53 billion, a P/E ratio of 16.54, a PEG ratio of 1.47 and a beta of 0.99. The company’s fifty day moving average is $299.46 and its two-hundred day moving average is $299.57.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings data 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. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The company had revenue of $43.79 billion for the quarter, compared to the consensus estimate of $43.33 billion. During the same period last year, the firm posted $4.53 EPS. Home Depot’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

Home Depot Dividend Announcement

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

Home Depot announced that its Board of Directors has authorized 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 buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the sale, the executive vice president now owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Fahim Siddiqui sold 1,000 shares of Home Depot stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $300.59, for a total value of $300,590.00. Following the sale, the executive vice president now owns 6,180 shares of the company’s stock, valued at $1,857,646.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the completion of the sale, the executive vice president now directly owns 34,522 shares in the company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Home Depot 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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