The Home Depot, Inc. (NYSE:HD) Shares Sold by Wallington Asset Management LLC

Wallington Asset Management LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 43.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 32,395 shares of the home improvement retailer’s stock after selling 25,013 shares during the period. Home Depot makes up approximately 1.8% of Wallington Asset Management LLC’s holdings, making the stock its 25th largest holding. Wallington Asset Management LLC’s holdings in Home Depot were worth $8,885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burleson & Company LLC increased its holdings in Home Depot by 7.3% during the 2nd quarter. Burleson & Company LLC now owns 24,069 shares of the home improvement retailer’s stock worth $6,601,000 after purchasing an additional 1,636 shares during the last quarter. Red Door Wealth Management LLC increased its holdings in Home Depot by 5.8% during the 2nd quarter. Red Door Wealth Management LLC now owns 14,408 shares of the home improvement retailer’s stock worth $3,951,000 after purchasing an additional 789 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Home Depot by 7.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 272,971 shares of the home improvement retailer’s stock worth $74,868,000 after purchasing an additional 19,252 shares during the last quarter. Community Trust & Investment Co. increased its holdings in Home Depot by 2.2% during the 2nd quarter. Community Trust & Investment Co. now owns 11,396 shares of the home improvement retailer’s stock worth $3,126,000 after purchasing an additional 240 shares during the last quarter. Finally, Insight Folios Inc increased its holdings in Home Depot by 2.1% during the 2nd quarter. Insight Folios Inc now owns 1,730 shares of the home improvement retailer’s stock worth $475,000 after purchasing an additional 36 shares during the last quarter. 68.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HD shares. MKM Partners started coverage on Home Depot in a report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price objective on the stock. Morgan Stanley lifted their price objective on Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, August 17th. Wedbush boosted their price target on Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, August 17th. UBS Group boosted their price target on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Finally, StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.95.

Home Depot Trading Down 0.9 %

Shares of HD stock opened at $269.14 on Friday. 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 Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. The stock has a fifty day moving average of $299.46 and a two-hundred day moving average of $299.57. The firm 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.

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 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 company had revenue of $43.79 billion during the quarter, compared to analyst estimates of $43.33 billion. During the same quarter in the previous year, the firm posted $4.53 EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 16.56 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a yield of 2.82%. Home Depot’s dividend payout ratio (DPR) is presently 46.71%.

Home Depot announced that its Board of Directors has initiated a share 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 repurchase up to 4.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Fahim Siddiqui sold 1,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Matt Carey sold 12,650 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 34,522 shares in the company, valued at $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.

Further Reading

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

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