Strategy Asset Managers LLC Sells 604 Shares of The Home Depot, Inc. (NYSE:HD)

Strategy Asset Managers LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,301 shares of the home improvement retailer’s stock after selling 604 shares during the period. Home Depot makes up approximately 1.1% of Strategy Asset Managers LLC’s investment portfolio, making the stock its 29th largest position. Strategy Asset Managers LLC’s holdings in Home Depot were worth $3,648,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Home Depot by 0.4% in the first quarter. State Street Corp now owns 45,622,114 shares of the home improvement retailer’s stock valued at $13,656,067,000 after buying an additional 180,532 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after buying an additional 1,361,660 shares during the period. Norges Bank bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $4,325,629,000. Fisher Asset Management LLC boosted its stake in shares of Home Depot by 3.9% in the first quarter. Fisher Asset Management LLC now owns 8,134,863 shares of the home improvement retailer’s stock valued at $2,435,009,000 after buying an additional 303,885 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of Home Depot by 12.2% in the fourth quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer’s stock valued at $2,166,946,000 after buying an additional 566,462 shares during the period. Institutional investors own 68.66% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $269.14 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70. The stock has a market capitalization of $275.53 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99. The firm’s fifty day simple moving average is $299.46 and its two-hundred day simple moving average is $299.57. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61.

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

Home Depot announced that its board has authorized a share buyback program on Thursday, August 18th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Home Depot Announces Dividend

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

Insider Transactions at Home Depot

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HD shares. Guggenheim boosted their price target on Home Depot from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. JPMorgan Chase & Co. lowered their price objective on shares of Home Depot from $335.00 to $311.00 and set an “overweight” rating for the company in a research report on Tuesday, August 9th. Wedbush boosted their price objective on shares of Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a research report on Wednesday, August 17th. MKM Partners initiated coverage on shares of Home Depot in a research report on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on shares of Home Depot from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Tuesday, August 16th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $365.95.

Home Depot 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.

Further Reading

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

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