Murphy Middleton Hinkle & Parker Inc. trimmed its position in Home Depot Inc (NYSE:HD) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,268 shares of the home improvement retailer’s stock after selling 108 shares during the quarter. Home Depot comprises approximately 2.8% of Murphy Middleton Hinkle & Parker Inc.’s holdings, making the stock its 4th biggest position. Murphy Middleton Hinkle & Parker Inc.’s holdings in Home Depot were worth $3,825,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Your Advocates Ltd. LLP bought a new stake in Home Depot in the first quarter worth $27,000. Lion Street Advisors LLC acquired a new stake in shares of Home Depot in the first quarter valued at about $28,000. Cordasco Financial Network lifted its stake in shares of Home Depot by 120.5% in the first quarter. Cordasco Financial Network now owns 247 shares of the home improvement retailer’s stock valued at $46,000 after buying an additional 135 shares during the period. Danda Trouve Investment Management Inc. increased its holdings in shares of Home Depot by 960.0% during the first quarter. Danda Trouve Investment Management Inc. now owns 265 shares of the home improvement retailer’s stock worth $49,000 after buying an additional 240 shares in the last quarter. Finally, HighMark Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $58,000. 69.85% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the stock. Wedbush boosted their price objective on shares of Home Depot from $200.00 to $230.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Bank of America upped their target price on shares of Home Depot from $250.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, June 12th. Morgan Stanley increased their price objective on shares of Home Depot from $245.00 to $260.00 and gave the company an “overweight” rating in a report on Monday, June 22nd. Royal Bank of Canada raised their price target on Home Depot from $261.00 to $266.00 in a research note on Wednesday, May 20th. Finally, Nomura Securities raised their price target on Home Depot from $204.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $254.83.
In other news, EVP William G. Lennie sold 17,993 shares of Home Depot stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the completion of the transaction, the executive vice president now directly owns 54,405 shares in the company, valued at $12,840,668.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.
Shares of Home Depot stock traded up $0.51 on Wednesday, reaching $247.86. 1,284,761 shares of the stock were exchanged, compared to its average volume of 4,312,846. The firm has a market cap of $268.40 billion, a PE ratio of 24.63, a P/E/G ratio of 2.23 and a beta of 1.06. The firm’s 50 day moving average is $246.87 and its 200-day moving average is $224.90. Home Depot Inc has a one year low of $140.63 and a one year high of $259.29.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.19). The company had revenue of $28.26 billion during the quarter, compared to analyst estimates of $27.59 billion. Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 earnings per share. As a group, research analysts predict that Home Depot Inc will post 9.91 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Wednesday, June 3rd. Home Depot’s payout ratio is 58.54%.
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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