Main Street Financial Solutions LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,287 shares of the home improvement retailer’s stock after acquiring an additional 53 shares during the quarter. Main Street Financial Solutions LLC’s holdings in The Home Depot were worth $2,005,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of HD. KB Financial Partners LLC acquired a new position in shares of The Home Depot during the 1st quarter valued at $29,000. Elmwood Wealth Management Inc. acquired a new position in shares of The Home Depot in the 1st quarter worth $41,000. Atlas Capital Advisors LLC grew its holdings in shares of The Home Depot by 38.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 133 shares of the home improvement retailer’s stock worth $42,000 after acquiring an additional 37 shares during the last quarter. Twin Lakes Capital Management LLC acquired a new position in shares of The Home Depot in the 1st quarter worth $61,000. Finally, Lake Point Wealth Management acquired a new position in shares of The Home Depot in the 2nd quarter worth $69,000. Hedge funds and other institutional investors own 68.97% of the company’s stock.
In other news, CEO Craig A. Menear sold 68,468 shares of the business’s stock in a transaction that occurred on Friday, August 20th. The stock was sold at an average price of $325.46, for a total value of $22,283,595.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Hector A. Padilla sold 1,154 shares of the business’s stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $325.62, for a total value of $375,765.48. The disclosure for this sale can be found here. Insiders have sold 74,622 shares of company stock worth $24,302,611 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.
The Home Depot (NYSE:HD) last issued its quarterly earnings results on Monday, August 16th. The home improvement retailer reported $4.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.10. The Home Depot had a return on equity of 709.19% and a net margin of 10.55%. The firm had revenue of $41.12 billion for the quarter, compared to analyst estimates of $40.74 billion. During the same period in the previous year, the company posted $4.02 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Sell-side analysts anticipate that The Home Depot, Inc. will post 14.45 EPS for the current year.
The Home Depot declared that its board has initiated a stock repurchase program on Thursday, May 20th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 16th. Investors of record on Thursday, September 2nd will be paid a dividend of $1.65 per share. The ex-dividend date is Wednesday, September 1st. This represents a $6.60 annualized dividend and a yield of 1.98%. The Home Depot’s dividend payout ratio is 54.86%.
A number of brokerages recently issued reports on HD. Raymond James lifted their target price on The Home Depot from $350.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, August 16th. Morgan Stanley raised their target price on The Home Depot from $340.00 to $345.00 and gave the stock an “overweight” rating in a research report on Monday, May 24th. Piper Sandler raised their target price on The Home Depot from $290.00 to $310.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 19th. Loop Capital lifted their price objective on The Home Depot from $350.00 to $370.00 and gave the company a “buy” rating in a research report on Wednesday, May 19th. Finally, Jefferies Financial Group reduced their price objective on The Home Depot from $380.00 to $369.00 and set a “buy” rating for the company in a research report on Wednesday, August 18th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $339.52.
About The Home Depot
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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