First Pacific Financial boosted its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,703 shares of the home improvement retailer's stock after buying an additional 70 shares during the quarter. First Pacific Financial's holdings in Home Depot were worth $741,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. DAGCO Inc. increased its stake in Home Depot by 0.4% during the first quarter. DAGCO Inc. now owns 7,394 shares of the home improvement retailer's stock worth $2,276,000 after purchasing an additional 32 shares during the period. Willow Creek Wealth Management Inc. increased its stake in Home Depot by 4.7% during the 4th quarter. Willow Creek Wealth Management Inc. now owns 736 shares of the home improvement retailer's stock worth $305,000 after buying an additional 33 shares during the period. Beam Wealth Advisors Inc. lifted its holdings in Home Depot by 4.9% during the 1st quarter. Beam Wealth Advisors Inc. now owns 707 shares of the home improvement retailer's stock worth $212,000 after buying an additional 33 shares in the last quarter. Shaker Investments LLC OH boosted its position in Home Depot by 1.0% in the 1st quarter. Shaker Investments LLC OH now owns 3,330 shares of the home improvement retailer's stock valued at $997,000 after buying an additional 33 shares during the period. Finally, Atticus Wealth Management LLC grew its stake in shares of Home Depot by 0.5% in the first quarter. Atticus Wealth Management LLC now owns 7,098 shares of the home improvement retailer's stock worth $2,125,000 after acquiring an additional 34 shares in the last quarter. 68.66% of the stock is currently owned by institutional investors and hedge funds.
Get Home Depot alerts:Home Depot Stock Performance
Shares of Home Depot stock opened at $275.94 on Monday. The firm's fifty day simple moving average is $296.33 and its 200-day simple moving average is $297.51. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61. The stock has a market capitalization of $282.49 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.49 and a beta of 0.99. The company has a debt-to-equity ratio of 165.70, a current ratio of 1.18 and a quick ratio of 0.25.
Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, beating analysts' consensus estimates of $4.95 by $0.10. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The company had revenue of $43.79 billion for the quarter, compared to analyst estimates of $43.33 billion. During the same period in the previous year, the business posted $4.53 earnings per share. Home Depot's quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 16.64 earnings per share for the current year.Home Depot announced that its board has approved a stock repurchase plan on Thursday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Home Depot Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $1.90 per share. The ex-dividend date was Wednesday, August 31st. This represents a $7.60 dividend on an annualized basis and a yield of 2.75%. Home Depot's payout ratio is 46.71%.
Insider Buying and Selling at Home Depot
In other news, EVP Fahim Siddiqui sold 1,000 shares of the company's stock in a transaction that occurred on 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 $1,857,646.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Home Depot news, EVP Fahim Siddiqui sold 1,000 shares of the company's stock in a transaction on Friday, September 9th. The shares were sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the transaction, the executive vice president now owns 6,180 shares in the company, valued at approximately $1,857,646.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Matt Carey sold 12,650 shares of Home Depot stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the completion of the sale, the executive vice president now directly owns 34,522 shares in the company, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Company insiders own 0.17% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the company. UBS Group increased their price objective on Home Depot from $360.00 to $370.00 and gave the company a "buy" rating in a research note on Wednesday, August 17th. Evercore ISI lowered their price objective on Home Depot to $360.00 in a research report on Thursday, June 9th. Piper Sandler raised their target price on shares of Home Depot to $327.00 in a report on Monday, August 22nd. Raymond James boosted their price target on shares of Home Depot from $340.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday, August 17th. Finally, Morgan Stanley raised their price objective on shares of Home Depot from $350.00 to $360.00 and gave the company an "overweight" rating in a report on Wednesday, August 17th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $365.95.
About Home Depot
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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.
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