Cetera Advisors LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Cetera Advisors LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,190 shares of the home improvement retailer’s stock after selling 590 shares during the quarter. Cetera Advisors LLC’s holdings in Home Depot were worth $35,782,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BCK Partners Inc. acquired a new stake in Home Depot in the first quarter valued at approximately $2,933,000. Fairfield Bush & CO. acquired a new stake in Home Depot in the first quarter valued at $27,000. Ergoteles LLC purchased a new stake in Home Depot during the 1st quarter worth about $1,554,000. Equitable Holdings Inc. boosted its position in shares of Home Depot by 7.4% during the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after acquiring an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Home Depot by 3.2% in the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after acquiring an additional 24,640 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 12,120 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $325.40, for a total value of $3,943,848.00. Following the completion of the transaction, the executive vice president now owns 73,049 shares in the company, valued at $23,770,144.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Timothy A. Hourigan sold 12,120 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the transaction, the executive vice president now directly owns 73,049 shares of the company’s stock, valued at approximately $23,770,144.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 22,749 shares in the company, valued at approximately $7,375,680.78. The disclosure for this sale can be found here. Insiders have sold a total of 19,811 shares of company stock worth $6,441,376 in the last quarter. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Robert W. Baird upped their price target on Home Depot from $330.00 to $360.00 in a report on Tuesday, August 15th. Truist Financial lowered their target price on shares of Home Depot from $372.00 to $341.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Morgan Stanley reduced their price target on shares of Home Depot from $350.00 to $335.00 and set an “overweight” rating for the company in a research report on Wednesday. Argus dropped their price objective on Home Depot from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Finally, Barclays boosted their target price on Home Depot from $310.00 to $333.00 and gave the company an “equal weight” rating in a report on Tuesday, August 15th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.46.

Home Depot Price Performance

HD stock traded up $1.21 on Wednesday, reaching $304.84. 570,876 shares of the company’s stock were exchanged, compared to its average volume of 3,618,660. The stock has a fifty day moving average of $299.85 and a 200-day moving average of $306.47. The firm has a market cap of $304.86 billion, a PE ratio of 19.12, a P/E/G ratio of 2.02 and a beta of 0.93. 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 Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $347.25.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.06. The business had revenue of $37.71 billion for the quarter, compared to analysts’ expectations of $37.59 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.24 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot declared that its board has initiated a share buyback plan on Tuesday, August 15th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to purchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Thursday, August 31st were paid a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Wednesday, August 30th. Home Depot’s dividend payout ratio (DPR) is 52.22%.

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.