Lynx Investment Advisory Purchases New Stake in The Home Depot, Inc. (NYSE:HD)

Lynx Investment Advisory purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 443 shares of the home improvement retailer’s stock, valued at approximately $152,000.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Bare Financial Services Inc acquired a new stake in shares of Home Depot during the 4th quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at about $27,000. Keener Financial Planning LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at about $31,000. Gilfoyle & Co LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at about $35,000. Finally, Burkett Financial Services LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at about $38,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. Evercore ISI raised their price objective on Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Raymond James reissued a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Jefferies Financial Group started coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. TD Cowen dropped their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Citigroup dropped their price target on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $384.00.

Home Depot Trading Up 1.1 %

Shares of Home Depot stock traded up $3.72 during trading hours on Tuesday, hitting $353.73. The company’s stock had a trading volume of 2,830,862 shares, compared to its average volume of 3,408,902. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a 50 day moving average of $346.68 and a 200 day moving average of $353.39. The company has a market capitalization of $350.76 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.82 earnings per share. Analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. 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.