The Home Depot, Inc. (NYSE:HD) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,109 shares of the home improvement retailer’s stock after purchasing an additional 3,242 shares during the period. Home Depot comprises approximately 0.9% of NewEdge Advisors LLC’s holdings, making the stock its 12th largest position. NewEdge Advisors LLC’s holdings in Home Depot were worth $58,401,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Sky Investment Group LLC boosted its holdings in shares of Home Depot by 3.4% in the 1st quarter. Sky Investment Group LLC now owns 21,198 shares of the home improvement retailer’s stock valued at $6,345,000 after purchasing an additional 703 shares during the last quarter. Everhart Financial Group Inc. boosted its holdings in shares of Home Depot by 28.5% in the 1st quarter. Everhart Financial Group Inc. now owns 2,062 shares of the home improvement retailer’s stock valued at $617,000 after purchasing an additional 457 shares during the last quarter. Diversified LLC boosted its holdings in shares of Home Depot by 1.5% in the 1st quarter. Diversified LLC now owns 3,257 shares of the home improvement retailer’s stock valued at $975,000 after purchasing an additional 47 shares during the last quarter. Matisse Capital boosted its holdings in shares of Home Depot by 3.9% in the 1st quarter. Matisse Capital now owns 2,664 shares of the home improvement retailer’s stock valued at $797,000 after purchasing an additional 100 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Home Depot by 4.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,961 shares of the home improvement retailer’s stock valued at $1,186,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 68.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Matt Carey sold 12,650 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the completion of the sale, the executive vice president now directly owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Home Depot to $327.00 in a report on Monday, August 22nd. Raymond James lifted their target price on shares of Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Wedbush lifted their target price on shares of Home Depot from $320.00 to $340.00 and gave the company a “neutral” rating in a report on Wednesday, August 17th. UBS Group lifted their target price on shares of Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Finally, Jefferies Financial Group reduced their target price on shares of Home Depot from $420.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 18th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.95.

Home Depot Price Performance

Shares of NYSE:HD opened at $299.90 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.18 and a debt-to-equity ratio of 165.70. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $420.61. The firm has a 50-day simple moving average of $300.50 and a 200 day simple moving average of $302.46. The company has a market cap of $307.02 billion, a PE ratio of 18.43, a P/E/G ratio of 1.60 and a beta of 0.99.

Home Depot (NYSE:HDGet Rating) last announced its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share 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 business had revenue of $43.79 billion during the quarter, compared to the consensus estimate of $43.33 billion. During the same quarter in the prior year, the firm earned $4.53 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 16.56 EPS 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 buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase up to 4.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Wednesday, August 31st. Home Depot’s dividend payout ratio (DPR) is 46.71%.

Home Depot Profile

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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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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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