L & S Advisors Inc decreased its position in Home Depot Inc (NYSE:HD) by 31.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,542 shares of the home improvement retailer’s stock after selling 15,140 shares during the period. Home Depot comprises 0.9% of L & S Advisors Inc’s investment portfolio, making the stock its 23rd biggest position. L & S Advisors Inc’s holdings in Home Depot were worth $6,768,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Krane Funds Advisors LLC acquired a new position in Home Depot during the second quarter worth about $25,000. Evolution Wealth Advisors LLC acquired a new position in Home Depot in the 2nd quarter valued at about $31,000. MRA Associates USA LLC acquired a new position in Home Depot in the 2nd quarter valued at about $34,000. Thor Advisors LLC acquired a new position in Home Depot in the 1st quarter valued at about $32,000. Finally, Virtus ETF Advisers LLC acquired a new position in Home Depot in the 4th quarter valued at about $32,000. 70.12% of the stock is owned by institutional investors.
In related news, EVP William G. Lennie sold 9,200 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $220.05, for a total transaction of $2,024,460.00. Following the sale, the executive vice president now directly owns 84,123 shares of the company’s stock, valued at approximately $18,511,266.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Carol B. Tome sold 145,400 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total transaction of $31,848,416.00. Following the completion of the sale, the chief financial officer now directly owns 496,374 shares in the company, valued at $108,725,760.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,508 shares of company stock worth $39,076,428. 0.27% of the stock is owned by insiders.
Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.10. Home Depot had a net margin of 10.18% and a negative return on equity of 1,179.69%. The firm had revenue of $30.84 billion for the quarter, compared to the consensus estimate of $30.98 billion. During the same period in the prior year, the firm earned $3.05 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, research analysts predict that Home Depot Inc will post 10.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, September 5th will be paid a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, September 4th. Home Depot’s payout ratio is currently 55.01%.
Several equities analysts have weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Home Depot in a report on Thursday, July 11th. They issued a “buy” rating and a $235.00 target price on the stock. Wedbush reiterated a “neutral” rating and issued a $230.00 target price (up from $190.00) on shares of Home Depot in a report on Wednesday, August 21st. Royal Bank of Canada boosted their target price on shares of Home Depot from $229.00 to $233.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Gabelli lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. They noted that the move was a valuation call. Finally, UBS Group boosted their target price on shares of Home Depot from $215.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $221.39.
Home Depot Company 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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