Strategy Asset Managers LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Strategy Asset Managers LLC decreased its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,301 shares of the home improvement retailer’s stock after selling 604 shares during the period. Home Depot accounts for 1.1% of Strategy Asset Managers LLC’s investment portfolio, making the stock its 29th biggest holding. Strategy Asset Managers LLC’s holdings in Home Depot were worth $3,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rinkey Investments purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $25,000. Tobam purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $27,000. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the 1st quarter worth approximately $27,000. Finally, Clear Perspectives Financial Planning LLC increased its stake in shares of Home Depot by 135.0% during 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 during the last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of several research analyst reports. Morgan Stanley raised their price target 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. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler raised their price objective on shares of Home Depot to $327.00 in a report on Monday, August 22nd. UBS Group raised their price objective 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. Finally, Wedbush raised their price objective on shares of Home Depot from $320.00 to $340.00 and gave the stock a “neutral” rating in a report 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. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $365.95.

Home Depot Price Performance

Shares of NYSE:HD opened at $269.14 on Friday. The stock has a market cap of $275.53 billion, a PE 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 200 day moving average is $299.57. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70.

Home Depot (NYSE:HDGet Rating) last issued its earnings results 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. The company had revenue of $43.79 billion for 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 firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.53 EPS. Research analysts anticipate that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend 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 authorized a share repurchase plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the business’s 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 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 is available through this hyperlink. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the business’s 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 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 is available through this hyperlink. Also, EVP Matt Carey sold 12,650 shares of the business’s 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 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 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.

Further Reading

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

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