Prentice Wealth Management LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Prentice Wealth Management LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,743 shares of the home improvement retailer’s stock after purchasing an additional 165 shares during the quarter. Prentice Wealth Management LLC’s holdings in Home Depot were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HD. Willis Investment Counsel grew its holdings in Home Depot by 0.4% in the first quarter. Willis Investment Counsel now owns 98,795 shares of the home improvement retailer’s stock valued at $29,156,000 after purchasing an additional 433 shares during the period. Virtu Financial LLC purchased a new position in shares of Home Depot in the 1st quarter worth $1,332,000. Howard Financial Services LTD. boosted its holdings in Home Depot by 7.2% in the first quarter. Howard Financial Services LTD. now owns 727 shares of the home improvement retailer’s stock valued at $215,000 after acquiring an additional 49 shares during the last quarter. Value Partners Investments Inc. increased its stake in Home Depot by 20.2% during the first quarter. Value Partners Investments Inc. now owns 132,439 shares of the home improvement retailer’s stock worth $39,081,000 after acquiring an additional 22,217 shares during the last quarter. Finally, CWM LLC raised its holdings in shares of Home Depot by 3.0% in the 1st quarter. CWM LLC now owns 101,411 shares of the home improvement retailer’s stock worth $29,928,000 after purchasing an additional 2,984 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Guggenheim increased their target price on shares of Home Depot from $320.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Argus reduced their target price on shares of Home Depot from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Loop Capital increased their price target on Home Depot from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, August 16th. Truist Financial upped their target price on Home Depot from $348.00 to $372.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Evercore ISI raised their target price on Home Depot from $360.00 to $370.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Thirteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $339.62.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 6,091 shares of Home Depot stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total value of $1,974,824.02. Following the sale, the executive vice president now directly owns 22,749 shares in the company, valued at approximately $7,375,680.78. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Teresa Wynn Roseborough sold 6,091 shares of the firm’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 sale, the executive vice president now directly owns 22,749 shares in the company, valued at approximately $7,375,680.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Kimberly R. Scardino sold 1,600 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total value 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 19,811 shares of company stock valued at $6,441,376. 0.19% of the stock is currently owned by company insiders.

Home Depot Trading Down 2.5 %

Home Depot stock opened at $321.40 on Friday. The company has a debt-to-equity ratio of 30.53, a quick ratio of 0.35 and a current ratio of 1.31. The Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25. The firm’s 50-day moving average is $325.55 and its 200-day moving average is $305.05. The company has a market cap of $321.42 billion, a P/E ratio of 20.07, a PEG ratio of 2.26 and a beta of 0.95.

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

Home Depot Announces Dividend

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

Home Depot announced that its board has approved a share repurchase 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 repurchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.