SeaBridge Investment Advisors LLC reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 14,955 shares of the home improvement retailer’s stock after selling 526 shares during the period. The Home Depot makes up 1.5% of SeaBridge Investment Advisors LLC’s holdings, making the stock its 17th biggest holding. SeaBridge Investment Advisors LLC’s holdings in The Home Depot were worth $4,769,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. KB Financial Partners LLC acquired a new position in The Home Depot in the 1st quarter worth about $29,000. Elmwood Wealth Management Inc. acquired a new position in The Home Depot in the 1st quarter worth about $41,000. Atlas Capital Advisors LLC increased its holdings in 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 purchasing an additional 37 shares in the last quarter. Twin Lakes Capital Management LLC acquired a new position in The Home Depot in the 1st quarter worth about $61,000. Finally, Lake Point Wealth Management acquired a new position in The Home Depot in the 2nd quarter worth about $69,000. 68.97% of the stock is owned by institutional investors and hedge funds.
HD has been the subject of several recent research reports. Credit Suisse Group increased their price target on The Home Depot from $319.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, May 25th. DA Davidson reissued a “neutral” rating on shares of The Home Depot in a research note on Wednesday, August 18th. Loop Capital increased their price target on The Home Depot from $350.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, May 19th. Morgan Stanley increased their price target on The Home Depot from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, May 24th. Finally, OTR Global cut The Home Depot to a “positive” rating in a research note on Tuesday, August 10th. Six equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $339.52.
Shares of HD stock traded down $0.40 during trading hours on Wednesday, reaching $332.72. The company had a trading volume of 69,200 shares, compared to its average volume of 3,967,680. The business has a fifty day simple moving average of $327.20 and a 200-day simple moving average of $314.96. The company has a market cap of $351.14 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. The Home Depot, Inc. has a 12 month low of $246.59 and a 12 month high of $345.69. The company has a debt-to-equity ratio of 16.31, a current ratio of 1.06 and a quick ratio of 0.35.
The Home Depot (NYSE:HD) last issued its quarterly earnings results on Monday, August 16th. The home improvement retailer reported $4.53 EPS for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.10. The business had revenue of $41.12 billion for the quarter, compared to analyst estimates of $40.74 billion. The Home Depot had a return on equity of 709.19% and a net margin of 10.55%. The Home Depot’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $4.02 earnings per share. On average, equities research analysts expect that The Home Depot, Inc. will post 14.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 16th. Investors of record on Thursday, September 2nd will be issued a dividend of $1.65 per share. The ex-dividend date is Wednesday, September 1st. This represents a $6.60 dividend on an annualized basis and a yield of 1.98%. The Home Depot’s dividend payout ratio (DPR) is currently 54.86%.
The Home Depot declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 20th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The Home Depot Company Profile
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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