Laurel Wealth Advisors Inc. lifted its holdings in Home Depot Inc (NYSE:HD) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,398 shares of the home improvement retailer’s stock after purchasing an additional 414 shares during the quarter. Home Depot accounts for approximately 1.1% of Laurel Wealth Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. Laurel Wealth Advisors Inc.’s holdings in Home Depot were worth $5,074,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in HD. Krane Funds Advisors LLC bought a new stake in shares of Home Depot in the second quarter worth $25,000. Evolution Wealth Advisors LLC bought a new stake in shares of Home Depot in the second quarter worth $31,000. Virtus ETF Advisers LLC bought a new stake in shares of Home Depot in the fourth quarter worth $32,000. Thor Advisors LLC bought a new stake in shares of Home Depot in the first quarter worth $32,000. Finally, Enlightenment Research LLC bought a new stake in shares of Home Depot in the fourth quarter worth $34,000. 70.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:HD traded down $0.52 on Friday, hitting $233.28. The company had a trading volume of 53,346 shares, compared to its average volume of 4,578,911. Home Depot Inc has a 1-year low of $158.09 and a 1-year high of $235.49. The stock has a market cap of $255.17 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 2.16 and a beta of 1.05. The stock has a 50 day moving average price of $217.12 and a 200 day moving average price of $203.15.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a $1.36 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.44 annualized dividend and a dividend yield of 2.33%. Home Depot’s dividend payout ratio is currently 55.01%.
In related news, CFO Carol B. Tome sold 145,400 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.04, for a total value of $31,848,416.00. Following the transaction, the chief financial officer now directly owns 496,374 shares in the company, valued at $108,725,760.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William G. Lennie sold 9,200 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 84,123 shares in the company, valued at $18,511,266.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,508 shares of company stock worth $39,076,428. Corporate insiders own 0.27% of the company’s stock.
Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Home Depot from $246.00 to $269.00 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada upped their price target on shares of Home Depot from $229.00 to $233.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Gabelli lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. They noted that the move was a valuation call. Credit Suisse Group set a $213.00 price target on shares of Home Depot and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird upped their price target on shares of Home Depot from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Home Depot has an average rating of “Buy” and a consensus target price of $221.39.
About Home Depot
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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