Somerville Kurt F purchased a new stake in The Home Depot, Inc. (NYSE:HD – Free Report) during the second quarter, HoldingsChannel.com reports. The firm purchased 26,470 shares of the home improvement retailer’s stock, valued at approximately $9,335,000. Home Depot makes up approximately 2.2% of Somerville Kurt F’s investment portfolio, making the stock its 18th biggest holding.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Gator Capital Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $3,693,000. King Luther Capital Management Corp increased its holdings in shares of Home Depot by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 1,240,478 shares of the home improvement retailer’s stock worth $426,848,000 after buying an additional 7,180 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Home Depot by 320.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 11,292 shares of the home improvement retailer’s stock worth $3,886,000 after buying an additional 8,606 shares during the last quarter. Sarasin & Partners LLP raised its position in shares of Home Depot by 4.0% in the 2nd quarter. Sarasin & Partners LLP now owns 687,219 shares of the home improvement retailer’s stock worth $242,368,000 after buying an additional 26,357 shares during the period. Finally, Capital International Inc. CA boosted its holdings in Home Depot by 4.3% in the fourth quarter. Capital International Inc. CA now owns 150,368 shares of the home improvement retailer’s stock valued at $51,742,000 after acquiring an additional 6,187 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.
Home Depot Stock Performance
Home Depot stock opened at $334.97 on Thursday. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.08 and a quick ratio of 0.31. The company has a market capitalization 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 firm’s fifty day moving average price is $341.18 and its 200 day moving average price is $339.21.
Home Depot Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be given a dividend of $2.33 per share. This represents a $9.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, September 3rd. Home Depot’s payout ratio is presently 65.22%.
Wall Street Analysts Forecast Growth
HD has been the subject of a number of research reports. Jefferies Financial Group reissued a “buy” rating and set a $398.00 price target on shares of Home Depot in a research report on Tuesday, August 18th. Oppenheimer decreased their target price on Home Depot from $405.00 to $310.00 and set a “market perform” rating for the company in a report on Monday, May 18th. Stifel Nicolaus increased their target price on shares of Home Depot from $320.00 to $340.00 and gave the stock a “hold” rating in a research report on Monday, August 17th. DA Davidson reaffirmed a “buy” rating and set a $377.00 price target on shares of Home Depot in a research report on Wednesday, August 19th. Finally, KeyCorp reissued a “sector weight” rating on shares of Home Depot in a research report on Wednesday, August 19th. Eighteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.54.
View Our Latest Research Report on Home Depot
Home Depot News Roundup
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
Insider Transactions at Home Depot
In related news, CFO Richard V. Mcphail sold 5,989 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $348.40, for a total value 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 approximately $16,759,433.60. This represents a 11.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.
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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