The Home Depot, Inc. (NYSE:HD) Shares Sold by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.5% in the second quarter, Holdings Channel reports. The institutional investor owned 2,467 shares of the home improvement retailer’s stock after selling 143 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Home Depot were worth $766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carnegie Capital Asset Management LLC increased its holdings in shares of Home Depot by 7.2% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 47,911 shares of the home improvement retailer’s stock valued at $14,883,000 after acquiring an additional 3,211 shares during the last quarter. Outlook Wealth Advisors LLC increased its holdings in shares of Home Depot by 3.6% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 4,960 shares of the home improvement retailer’s stock valued at $1,541,000 after acquiring an additional 171 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Home Depot by 3.6% in the 2nd quarter. Impax Asset Management Group plc now owns 5,391 shares of the home improvement retailer’s stock valued at $1,675,000 after acquiring an additional 186 shares during the last quarter. Richard W. Paul & Associates LLC increased its holdings in shares of Home Depot by 5.2% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 3,064 shares of the home improvement retailer’s stock valued at $952,000 after acquiring an additional 152 shares during the last quarter. Finally, Fortis Group Advisors LLC bought a new stake in shares of Home Depot in the 1st quarter valued at approximately $2,567,000. Institutional investors own 68.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HD shares. Jefferies Financial Group upped their price objective on Home Depot from $370.00 to $384.00 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Sunday, October 15th. Evercore ISI upped their price objective on Home Depot from $360.00 to $370.00 and gave the stock an “outperform” rating in a research note on Friday, September 8th. Citigroup upped their price objective on Home Depot from $327.00 to $375.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Truist Financial reduced their price target on Home Depot from $341.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, November 15th. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $339.57.

Insider Activity

In other news, CAO Kimberly R. Scardino sold 1,600 shares of the 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 transaction, the chief accounting officer now owns 8,281 shares of the company’s stock, valued at approximately $2,705,319.89. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Home Depot news, CAO Kimberly R. Scardino sold 1,375 shares of Home Depot stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $306.51, for a total value of $421,451.25. Following the completion of the transaction, the chief accounting officer now owns 6,744 shares in the company, valued at approximately $2,067,103.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Kimberly R. Scardino sold 1,600 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total value of $522,704.00. Following the sale, the chief accounting officer now owns 8,281 shares of the company’s stock, valued at approximately $2,705,319.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,186 shares of company stock valued at $6,862,827. Insiders own 0.19% of the company’s stock.

Home Depot Stock Down 0.1 %

Home Depot stock traded down $0.20 during mid-day trading on Monday, hitting $307.07. The company’s stock had a trading volume of 1,044,390 shares, compared to its average volume of 3,616,726. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $347.25. The firm’s 50 day moving average is $298.63 and its 200 day moving average is $306.73. The company has a debt-to-equity ratio of 28.37, a current ratio of 1.30 and a quick ratio of 0.35. The company has a market cap of $307.09 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.06. Home Depot had a return on equity of 1,339.65% and a net margin of 10.22%. The company had revenue of $37.71 billion during the quarter, compared to the consensus estimate of $37.59 billion. During the same period last year, the business earned $4.24 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.05 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, November 29th. Home Depot’s dividend payout ratio is 53.66%.

Home Depot announced that its board has authorized a share repurchase program on Tuesday, August 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to reacquire up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Home Depot 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.