Avantax Advisory Services Inc. grew its position in shares of Home Depot Inc (NYSE:HD) by 134.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,553 shares of the home improvement retailer’s stock after purchasing an additional 46,766 shares during the period. Avantax Advisory Services Inc.’s holdings in Home Depot were worth $22,663,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Skandinaviska Enskilda Banken AB publ grew its position in shares of Home Depot by 1.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 326,905 shares of the home improvement retailer’s stock valued at $61,036,000 after purchasing an additional 4,303 shares in the last quarter. Shellback Capital LP purchased a new position in shares of Home Depot during the 1st quarter valued at $14,937,000. C M Bidwell & Associates Ltd. grew its position in shares of Home Depot by 2,200.0% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 1,863 shares of the home improvement retailer’s stock valued at $348,000 after purchasing an additional 1,782 shares in the last quarter. Morgan Stanley grew its position in shares of Home Depot by 2.4% during the 1st quarter. Morgan Stanley now owns 9,255,927 shares of the home improvement retailer’s stock valued at $1,728,173,000 after purchasing an additional 216,078 shares in the last quarter. Finally, Advent Capital Management DE purchased a new position in shares of Home Depot during the 1st quarter valued at $3,734,000. Hedge funds and other institutional investors own 69.00% of the company’s stock.
Several research analysts recently issued reports on HD shares. BNP Paribas started coverage on shares of Home Depot in a research report on Monday, October 5th. They issued an “outperform” rating and a $310.00 target price for the company. Nomura upped their target price on shares of Home Depot from $252.00 to $266.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Credit Suisse Group reiterated a “buy” rating and issued a $300.00 target price on shares of Home Depot in a research report on Monday, August 17th. Wedbush upped their target price on shares of Home Depot from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 19th. Finally, Robert W. Baird upped their target price on shares of Home Depot from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Eight research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Home Depot currently has an average rating of “Buy” and an average price target of $288.79.
Shares of NYSE HD opened at $287.66 on Friday. Home Depot Inc has a 1 year low of $140.63 and a 1 year high of $292.95. The company’s 50-day moving average is $278.34 and its 200 day moving average is $251.27. The stock has a market capitalization of $309.65 billion, a P/E ratio of 26.37, a P/E/G ratio of 2.38 and a beta of 1.09.
Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.20 by $0.82. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company had revenue of $38.05 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same quarter in the previous year, the company earned $3.17 earnings per share. Home Depot’s quarterly revenue was up 23.4% on a year-over-year basis. On average, equities analysts anticipate that Home Depot Inc will post 11.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, September 2nd. Home Depot’s dividend payout ratio is currently 58.54%.
In related news, EVP Matt Carey sold 13,680 shares of the business’s stock in a transaction dated Sunday, August 16th. The shares were sold at an average price of $194.35, for a total transaction of $2,658,708.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 41,947 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.83, for a total transaction of $11,738,029.01. Insiders have sold 119,304 shares of company stock worth $32,088,591 in the last quarter. 0.26% of the stock is owned by corporate insiders.
Home Depot Profile
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 provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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