Brookstone Capital Management Buys 1,850 Shares of The Home Depot, Inc. (NYSE:HD)

Brookstone Capital Management lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,015 shares of the home improvement retailer’s stock after acquiring an additional 1,850 shares during the quarter. Brookstone Capital Management’s holdings in Home Depot were worth $9,089,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HD. BCK Partners Inc. acquired a new stake in Home Depot during the first quarter worth $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot in the first quarter valued at about $27,000. Ergoteles LLC acquired a new position in Home Depot in the first quarter worth about $1,554,000. Equitable Holdings Inc. grew its stake in shares of Home Depot by 7.4% in the 1st quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after purchasing an additional 1,007 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Home Depot by 3.2% in the 1st quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock worth $236,865,000 after buying an additional 24,640 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Home Depot Stock Performance

HD opened at $317.26 on Tuesday. The business’s fifty day moving average is $325.92 and its 200-day moving average is $305.38. The firm has a market cap of $317.28 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. The Home Depot, Inc. has a 52-week low of $265.61 and a 52-week high of $347.25. The company has a debt-to-equity ratio of 30.53, a quick ratio of 0.35 and a current ratio of 1.31.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.45 by $0.20. The firm had revenue of $42.92 billion during the quarter, compared to the consensus estimate of $42.19 billion. Home Depot had a return on equity of 1,424.89% and a net margin of 10.48%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business posted $5.05 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.24 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 31st were paid a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, August 30th. Home Depot’s dividend payout ratio is presently 52.22%.

Home Depot declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 15th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Home Depot from $348.00 to $372.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. StockNews.com began coverage on Home Depot in a report on Thursday, August 17th. They set a “buy” rating for the company. Robert W. Baird raised their target price on Home Depot from $330.00 to $360.00 in a research note on Tuesday, August 15th. TheStreet upgraded shares of Home Depot from a “c+” rating to an “a-” rating in a research report on Tuesday, August 15th. Finally, Evercore ISI boosted their target price on shares of Home Depot from $360.00 to $370.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Thirteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $339.62.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the transaction, the executive vice president now owns 73,049 shares in the company, valued at $23,770,144.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 12,120 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the sale, the executive vice president now owns 73,049 shares in the company, valued at approximately $23,770,144.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Kimberly R. Scardino sold 1,600 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total transaction of $522,704.00. Following the sale, the chief accounting officer now directly owns 8,281 shares of the company’s stock, valued at $2,705,319.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,811 shares of company stock worth $6,441,376. 0.19% of the stock is currently owned by company insiders.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. 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.