Edmond DE Rothschild Holding S.A. purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) in the second quarter, HoldingsChannel.com reports. The firm purchased 201,536 shares of the home improvement retailer’s stock, valued at approximately $71,078,000. Home Depot comprises 0.9% of Edmond DE Rothschild Holding S.A.’s holdings, making the stock its 25th biggest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Gator Capital Management LLC bought a new position in shares of Home Depot in the fourth quarter worth $3,693,000. King Luther Capital Management Corp raised its stake in shares of Home Depot by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 1,240,478 shares of the home improvement retailer’s stock valued at $426,848,000 after purchasing an additional 7,180 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in Home Depot by 320.4% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 11,292 shares of the home improvement retailer’s stock worth $3,886,000 after purchasing an additional 8,606 shares during the period. Sarasin & Partners LLP lifted its holdings in Home Depot by 4.0% in the second quarter. Sarasin & Partners LLP now owns 687,219 shares of the home improvement retailer’s stock worth $242,368,000 after purchasing an additional 26,357 shares during the period. Finally, Capital International Inc. CA grew its position in Home Depot by 4.3% in the 4th quarter. Capital International Inc. CA now owns 150,368 shares of the home improvement retailer’s stock valued at $51,742,000 after buying an additional 6,187 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.
Home Depot Stock Performance
NYSE:HD opened at $334.97 on Thursday. The company has a 50-day moving average of $341.18 and a 200-day moving average of $339.21. The firm has a market cap of $334.01 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.72 and a beta of 0.95. The company has a current ratio of 1.08, a quick ratio of 0.31 and a debt-to-equity ratio of 2.64. The Home Depot, Inc. has a twelve month low of $289.10 and a twelve month high of $426.75.
Home Depot Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be given a dividend of $2.33 per share. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Thursday, September 3rd. Home Depot’s dividend payout ratio is 65.22%.
Insider Buying and Selling at Home Depot
In other news, CFO Richard V. Mcphail sold 5,989 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total transaction of $2,086,567.60. Following the completion of the sale, the chief financial officer directly owned 48,104 shares of the company’s stock, valued at $16,759,433.60. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts have commented on HD shares. Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 20th. Citigroup reduced their price target on shares of Home Depot from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. JPMorgan Chase & Co. decreased their price objective on shares of Home Depot from $423.00 to $396.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Piper Sandler lowered their price objective on shares of Home Depot from $422.00 to $421.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Finally, Wall Street Zen raised Home Depot from a “sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Eighteen analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $375.54.
Check Out Our Latest Analysis on HD
Key Home Depot News
Here are the key news stories impacting Home Depot this week:
- Positive Sentiment: Home Depot reported fiscal second-quarter revenue of $47.86 billion, up 5.7% year over year and ahead of consensus estimates. Adjusted diluted EPS of $4.92 also exceeded the $4.73 analyst expectation. Home Depot Beat Q2 Estimates
- Positive Sentiment: A nationwide three-hour delivery service could help HD compete with Walmart and Target for e-commerce orders, improve convenience and support sales of home-improvement products. Home Depot Three-Hour Delivery
- Positive Sentiment: Analysts and investor-focused commentary continue to highlight Home Depot’s 17-year dividend growth streak and long-term shareholder returns, offering support while investors wait for housing conditions to improve. Home Depot Dividend Streak
Home Depot Company Profile
The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.
Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.
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