The Home Depot, Inc. (NYSE:HD) Stock Position Lifted by RDA Financial Network

RDA Financial Network lifted its holdings in The Home Depot, Inc. (NYSE:HDGet Rating) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,929 shares of the home improvement retailer’s stock after purchasing an additional 220 shares during the quarter. RDA Financial Network’s holdings in Home Depot were worth $803,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rinkey Investments bought a new position in Home Depot during the fourth quarter valued at about $25,000. GW&K Investment Management LLC acquired a new position in shares of Home Depot in the 1st quarter valued at $25,000. Tobam acquired a new position in shares of Home Depot in the 1st quarter valued at $27,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the 1st quarter valued at $27,000. Finally, Clear Perspectives Financial Planning LLC boosted its position 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 during the period. Institutional investors own 68.66% of the company’s stock.

Insider Buying and Selling at Home Depot

In other Home Depot 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 sale, the executive vice president now owns 6,180 shares of the company’s stock, valued at approximately $1,857,646.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the sale, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 1,000 shares of Home Depot 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 sale, the executive vice president now directly owns 6,180 shares in the company, valued at approximately $1,857,646.20. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent analyst reports. UBS Group increased their price target on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Morgan Stanley increased their price target on Home Depot from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, August 17th. Raymond James increased their price target on Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. JPMorgan Chase & Co. reduced their price objective on Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research note on Tuesday, August 9th. Finally, MKM Partners assumed coverage on Home Depot in a research note on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price objective for the company. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $365.95.

Home Depot Stock Performance

Shares of NYSE HD 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 firm has a market cap of $275.53 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.47 and a beta of 0.99. The business’s 50-day simple moving average is $299.46 and its 200-day simple 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.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.53 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 16.56 earnings per share for the current fiscal year.

Home Depot announced that its Board of Directors has authorized a stock buyback program on Thursday, August 18th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to buy up to 4.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $1.90 dividend. 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 dividend payout ratio (DPR) is currently 46.71%.

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.

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

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