Capital Market Strategies LLC Purchases New Holdings in The Home Depot, Inc. (NYSE:HD)

Capital Market Strategies LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,068 shares of the home improvement retailer’s stock, valued at approximately $1,885,000. Home Depot accounts for approximately 1.7% of Capital Market Strategies LLC’s holdings, making the stock its 9th largest holding.

Several other institutional investors have also made changes to their positions in HD. BCK Partners Inc. bought a new stake in shares of Home Depot in the first quarter valued at approximately $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot during the first quarter worth $27,000. Ergoteles LLC bought a new stake in Home Depot during the first quarter worth $1,554,000. Equitable Holdings Inc. lifted its stake in Home Depot by 7.4% during the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after purchasing an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Home Depot by 3.2% during the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after purchasing an additional 24,640 shares during the last quarter. 68.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Home Depot from $330.00 to $360.00 in a research note on Tuesday, August 15th. Loop Capital upped their target price on Home Depot from $300.00 to $315.00 and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Argus cut their target price on Home Depot from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, July 26th. Sanford C. Bernstein increased their price target on Home Depot from $314.00 to $328.00 and gave the company a “market perform” rating in a research note on Wednesday, August 16th. Finally, TheStreet upgraded Home Depot from a “c+” rating to an “a-” rating in a research note on Tuesday, August 15th. Thirteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $339.62.

Home Depot Stock Performance

NYSE HD opened at $321.40 on Friday. The company has a quick ratio of 0.35, a current ratio of 1.31 and a debt-to-equity ratio of 30.53. The stock has a fifty day simple moving average of $325.55 and a 200 day simple moving average of $305.05. The Home Depot, Inc. has a twelve month low of $265.61 and a twelve month high of $347.25. The company has a market capitalization of $321.42 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.26 and a beta of 0.95.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.20. Home Depot had a return on equity of 1,424.89% and a net margin of 10.48%. The firm had revenue of $42.92 billion during the quarter, compared to the consensus estimate of $42.19 billion. During the same period last year, the business posted $5.05 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Sell-side analysts expect that The Home Depot, Inc. will post 15.24 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were issued a dividend of $2.09 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $8.36 dividend on an annualized basis and a yield of 2.60%. Home Depot’s payout ratio is currently 52.22%.

Home Depot declared that its board has initiated a share buyback program on Tuesday, August 15th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Home Depot news, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total transaction of $522,704.00. Following the completion of the sale, the chief accounting officer now directly owns 8,281 shares in the company, valued at approximately $2,705,319.89. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total transaction of $522,704.00. Following the transaction, the chief accounting officer now owns 8,281 shares of the company’s stock, valued at approximately $2,705,319.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 12,120 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the transaction, the executive vice president now directly owns 73,049 shares in the company, valued at approximately $23,770,144.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,811 shares of company stock worth $6,441,376. Company insiders own 0.19% of the company’s stock.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It sells 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, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.