Conservest Capital Advisors Inc. Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Conservest Capital Advisors Inc. raised its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 2.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,458 shares of the home improvement retailer’s stock after purchasing an additional 41 shares during the period. Conservest Capital Advisors Inc.’s holdings in Home Depot were worth $400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Rinkey Investments purchased a new position in Home Depot in the 4th quarter valued at about $25,000. GW&K Investment Management LLC acquired a new stake in shares of Home Depot in the 1st quarter valued at about $25,000. Tobam acquired a new stake in shares of Home Depot in the 1st quarter valued at about $27,000. Fairfield Bush & CO. acquired a new stake in shares of Home Depot in the 1st quarter valued at about $27,000. Finally, Clear Perspectives Financial Planning LLC raised its stake in shares of 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 valued at $28,000 after purchasing an additional 54 shares in the last quarter. 68.66% of the stock is owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.9 %

Home Depot stock opened at $269.14 on Friday. The firm has a 50 day simple moving average of $299.46 and a 200-day simple moving average of $299.57. 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 stock has a market capitalization of $275.53 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61.

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

Home Depot Dividend Announcement

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

Home Depot announced that its Board of Directors has approved a stock buyback plan on Thursday, August 18th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird upped their target price on shares of Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Tuesday, August 16th. Raymond James upped their target price on shares of Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Truist Financial upped their target price on shares of Home Depot from $375.00 to $399.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 9th. Finally, Morgan Stanley increased their price objective on shares of Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 17th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $365.95.

Insider Buying and Selling

In related news, 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 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 $10,917,927.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 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 $10,917,927.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction 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 disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

About Home Depot

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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.

See Also

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HDGet Rating).

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

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