Greenfield Savings Bank Acquires 161 Shares of The Home Depot, Inc. (NYSE:HD)

Greenfield Savings Bank increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,222 shares of the home improvement retailer’s stock after purchasing an additional 161 shares during the quarter. Home Depot accounts for approximately 2.4% of Greenfield Savings Bank’s investment portfolio, making the stock its 4th largest position. Greenfield Savings Bank’s holdings in Home Depot were worth $3,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its position in Home Depot by 1.2% during the first quarter. BlackRock Inc. now owns 77,137,759 shares of the home improvement retailer’s stock worth $22,764,896,000 after purchasing an additional 878,220 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Home Depot by 0.7% in the first quarter. Geode Capital Management LLC now owns 19,135,000 shares of the home improvement retailer’s stock worth $5,635,031,000 after acquiring an additional 126,981 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Home Depot by 10.0% in the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after acquiring an additional 1,698,402 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Home Depot by 6.3% in the first quarter. Wellington Management Group LLP now owns 15,718,744 shares of the home improvement retailer’s stock worth $4,638,916,000 after acquiring an additional 925,962 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Home Depot by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,191,961 shares of the home improvement retailer’s stock worth $3,865,678,000 after acquiring an additional 756,274 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.

Home Depot Stock Down 2.5 %

HD stock 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 firm has a market capitalization of $321.42 billion, a PE ratio of 20.07, a PEG ratio of 2.26 and a beta of 0.95. The Home Depot, Inc. has a twelve month low of $265.61 and a twelve month high of $347.25. The stock has a 50-day simple moving average of $325.55 and a two-hundred day simple moving average of $305.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 EPS for the quarter, topping the consensus estimate 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 company had revenue of $42.92 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same quarter in the previous year, the firm earned $5.05 earnings per share. Home Depot’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.24 EPS for the current fiscal year.

Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 15th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Home Depot Dividend Announcement

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

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total value of $1,974,824.02. Following the completion of the sale, the executive vice president now owns 22,749 shares of the company’s stock, valued at $7,375,680.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Teresa Wynn Roseborough sold 6,091 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the completion of the sale, the executive vice president now owns 22,749 shares of the company’s stock, valued at $7,375,680.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the sale, the chief accounting officer now directly owns 8,281 shares of the company’s stock, valued at approximately $2,705,319.89. The disclosure for this sale can be found here. Insiders sold a total of 19,811 shares of company stock valued at $6,441,376 over the last quarter. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HD. Citigroup raised their price objective on shares of Home Depot from $327.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. The Goldman Sachs Group raised their price objective on shares of Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Truist Financial raised their price objective on shares of Home Depot from $348.00 to $372.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. StockNews.com began coverage on shares of Home Depot in a report on Thursday, August 17th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised their price objective on shares of Home Depot from $345.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, August 16th. Thirteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $339.62.

Home Depot Company Profile

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.