IFG Advisory LLC increased its position in shares of Home Depot Inc (NYSE:HD) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,472 shares of the home improvement retailer’s stock after acquiring an additional 269 shares during the quarter. IFG Advisory LLC’s holdings in Home Depot were worth $3,217,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of HD. Evolution Wealth Advisors LLC acquired a new position in Home Depot in the second quarter valued at about $31,000. Virtus ETF Advisers LLC acquired a new position in Home Depot in the fourth quarter valued at about $32,000. Thor Advisors LLC acquired a new position in Home Depot in the first quarter valued at about $32,000. Enlightenment Research LLC acquired a new position in Home Depot in the fourth quarter valued at about $34,000. Finally, MRA Associates USA LLC acquired a new position in Home Depot in the second quarter valued at about $34,000. 69.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Home Depot stock traded down $3.08 during trading hours on Friday, hitting $217.94. The company’s stock had a trading volume of 1,454,346 shares, compared to its average volume of 3,855,862. Home Depot Inc has a 12 month low of $158.09 and a 12 month high of $222.65. The stock has a 50 day moving average of $212.40 and a 200 day moving average of $199.39. The company has a market capitalization of $238.86 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.01 and a beta of 1.12.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.10. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The company had revenue of $30.84 billion during the quarter, compared to the consensus estimate of $30.98 billion. During the same period in the prior year, the company earned $3.05 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Home Depot Inc will post 10.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is currently 55.01%.
Several research firms have weighed in on HD. Citigroup increased their target price on Home Depot from $218.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. ValuEngine lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley increased their target price on Home Depot from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday. Wedbush reissued a “neutral” rating and issued a $230.00 target price (up previously from $190.00) on shares of Home Depot in a research note on Wednesday. Finally, Robert W. Baird increased their target price on Home Depot from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $220.11.
In related news, EVP Matt Carey sold 34,688 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $202.09, for a total transaction of $7,010,097.92. Following the completion of the transaction, the executive vice president now directly owns 81,982 shares in the company, valued at $16,567,742.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Carol B. Tome sold 26,334 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $189.17, for a total value of $4,981,602.78. Following the transaction, the chief financial officer now owns 519,253 shares of the company’s stock, valued at $98,227,090.01. The disclosure for this sale can be found here. Insiders sold 69,522 shares of company stock valued at $13,643,931 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.
Home Depot Company Profile
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 provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
Further Reading: Operating Income
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