Stokes Capital Advisors LLC Purchases 698 Shares of The Home Depot, Inc. (NYSE:HD)

Stokes Capital Advisors LLC increased its stake in The Home Depot, Inc. (NYSE:HDGet Rating) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,431 shares of the home improvement retailer’s stock after buying an additional 698 shares during the period. Home Depot accounts for about 1.8% of Stokes Capital Advisors LLC’s holdings, making the stock its 25th largest holding. Stokes Capital Advisors LLC’s holdings in Home Depot were worth $5,055,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bridge Advisory LLC grew its stake in shares of Home Depot by 6.6% in the 2nd quarter. Bridge Advisory LLC now owns 2,471 shares of the home improvement retailer’s stock worth $704,000 after buying an additional 154 shares during the last quarter. ACG Wealth grew its stake in shares of Home Depot by 5.1% in the 2nd quarter. ACG Wealth now owns 25,346 shares of the home improvement retailer’s stock worth $6,950,000 after buying an additional 1,229 shares during the last quarter. Diligent Investors LLC grew its stake in shares of Home Depot by 1.3% in the 2nd quarter. Diligent Investors LLC now owns 3,975 shares of the home improvement retailer’s stock worth $1,090,000 after buying an additional 50 shares during the last quarter. Evanson Asset Management LLC grew its stake in shares of Home Depot by 25.1% in the 2nd quarter. Evanson Asset Management LLC now owns 1,995 shares of the home improvement retailer’s stock worth $547,000 after buying an additional 400 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Home Depot by 8.6% during the 2nd quarter. Allworth Financial LP now owns 30,858 shares of the home improvement retailer’s stock valued at $8,463,000 after purchasing an additional 2,435 shares during the last quarter. Hedge funds and other institutional investors own 68.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. DA Davidson increased their target price on Home Depot to $334.00 in a research note on Monday, August 22nd. MKM Partners assumed coverage on Home Depot in a research note on Thursday, June 23rd. They set a “neutral” rating and a $285.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Home Depot from $335.00 to $311.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 9th. UBS Group increased their target price on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Finally, Piper Sandler increased their target price on Home Depot to $327.00 in a research note on Monday, August 22nd. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $365.95.

Home Depot Price Performance

Shares of Home Depot stock opened at $269.14 on Friday. The Home Depot, Inc. has a one year low of $264.51 and a one year high of $420.61. The stock’s fifty day moving average is $299.46 and its 200 day moving average is $299.57. The stock has a market cap of $275.53 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.47 and a beta of 0.99. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18.

Home Depot (NYSE:HDGet Rating) last announced its earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company had revenue of $43.79 billion for the quarter, compared to analysts’ expectations of $43.33 billion. During the same period last year, the firm earned $4.53 EPS. Home Depot’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $1.90 per share. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a yield of 2.82%. Home Depot’s dividend payout ratio is presently 46.71%.

Home Depot declared that its Board of Directors has authorized a share buyback plan on Thursday, August 18th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the sale, the executive vice president now directly owns 34,522 shares of the company’s stock, valued at $10,917,927.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Fahim Siddiqui sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the transaction, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Home Depot Company Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

See Also

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

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