Flaharty Asset Management LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Flaharty Asset Management LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,342 shares of the home improvement retailer’s stock after selling 92 shares during the quarter. Flaharty Asset Management LLC’s holdings in Home Depot were worth $727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blue Fin Capital Inc. increased its holdings in Home Depot by 0.3% during the 2nd quarter. Blue Fin Capital Inc. now owns 8,966 shares of the home improvement retailer’s stock worth $2,785,000 after purchasing an additional 31 shares during the period. Washington Trust Advisors Inc. increased its holdings in shares of Home Depot by 0.4% in the 2nd quarter. Washington Trust Advisors Inc. now owns 7,151 shares of the home improvement retailer’s stock valued at $2,221,000 after acquiring an additional 32 shares during the period. Key Financial Inc increased its holdings in shares of Home Depot by 0.6% in the 2nd quarter. Key Financial Inc now owns 5,198 shares of the home improvement retailer’s stock valued at $1,615,000 after acquiring an additional 32 shares during the period. Blume Capital Management Inc. increased its holdings in shares of Home Depot by 7.7% in the 2nd quarter. Blume Capital Management Inc. now owns 445 shares of the home improvement retailer’s stock valued at $138,000 after acquiring an additional 32 shares during the period. Finally, JB Capital LLC increased its holdings in shares of Home Depot by 0.5% in the 2nd quarter. JB Capital LLC now owns 6,527 shares of the home improvement retailer’s stock valued at $2,027,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 73,049 shares in the company, valued at $23,770,144.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 73,049 shares in the company, valued at $23,770,144.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Kimberly R. Scardino sold 1,375 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total value of $421,451.25. Following the completion of the transaction, the chief accounting officer now owns 6,744 shares in the company, valued at $2,067,103.44. The disclosure for this sale can be found here. Insiders sold 15,095 shares of company stock worth $4,888,003 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Home Depot from $330.00 to $360.00 in a report on Tuesday, August 15th. Argus cut their price target on Home Depot from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, July 26th. Telsey Advisory Group restated a “market perform” rating and set a $325.00 target price on shares of Home Depot in a research note on Wednesday, November 15th. Truist Financial dropped their target price on Home Depot from $341.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, November 15th. Finally, Loop Capital boosted 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. Twelve equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.57.

Check Out Our Latest Report on HD

Home Depot Stock Performance

Shares of HD stock traded down $3.27 on Tuesday, hitting $304.92. The company had a trading volume of 1,233,655 shares, compared to its average volume of 3,616,691. The company has a quick ratio of 0.35, a current ratio of 1.30 and a debt-to-equity ratio of 28.37. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $347.25. The company has a 50-day moving average price of $298.22 and a 200-day moving average price of $306.89. The firm has a market cap of $304.94 billion, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93.

Home Depot (NYSE:HDGet Free Report) last posted its quarterly earnings data on Tuesday, November 14th. The home improvement retailer reported $3.81 EPS for the quarter, topping the consensus estimate of $3.75 by $0.06. The company had revenue of $37.71 billion during the quarter, compared to analyst estimates of $37.59 billion. Home Depot had a return on equity of 1,339.65% and a net margin of 10.22%. Home Depot’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.24 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.05 earnings per share for the current fiscal year.

Home Depot declared that its board has approved a stock repurchase program on Tuesday, August 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a $2.09 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.74%. Home Depot’s dividend payout ratio (DPR) is presently 53.66%.

About Home Depot

(Free Report)

The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and d├ęcor 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.

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

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