The Home Depot, Inc. (NYSE:HD) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,015 shares of the home improvement retailer’s stock after acquiring an additional 1,850 shares during the quarter. Brookstone Capital Management’s holdings in Home Depot were worth $9,089,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Home Depot in the fourth quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC boosted its holdings in Home Depot by 105,205.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after buying an additional 10,984,516 shares during the last quarter. Providence Capital Advisors LLC increased its stake in Home Depot by 30,077.5% during the 1st quarter. Providence Capital Advisors LLC now owns 6,140,519 shares of the home improvement retailer’s stock worth $20,806,000 after buying an additional 6,120,171 shares in the last quarter. Gateway Advisory LLC raised its holdings in shares of Home Depot by 29,554.9% during the first quarter. Gateway Advisory LLC now owns 5,109,249 shares of the home improvement retailer’s stock valued at $5,109,000 after acquiring an additional 5,092,020 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Home Depot by 37.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,176,774 shares of the home improvement retailer’s stock valued at $2,582,715,000 after acquiring an additional 2,247,709 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Kimberly R. Scardino sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the sale, the chief accounting officer now owns 8,281 shares of the company’s stock, valued at $2,705,319.89. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Teresa Wynn Roseborough sold 6,091 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the completion of the sale, the executive vice president now owns 22,749 shares in the company, valued at $7,375,680.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total transaction of $522,704.00. Following the completion of the transaction, the chief accounting officer now owns 8,281 shares in the company, valued at $2,705,319.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,811 shares of company stock worth $6,441,376. 0.19% of the stock is currently owned by company insiders.

Home Depot Stock Down 1.3 %

Shares of NYSE:HD opened at $317.26 on Tuesday. The firm has a market capitalization of $317.28 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. The Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25. The company has a debt-to-equity ratio of 30.53, a current ratio of 1.31 and a quick ratio of 0.35. The firm’s 50-day moving average is $325.92 and its two-hundred day moving average is $305.38.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.45 by $0.20. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The firm had revenue of $42.92 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same period in the prior year, the firm earned $5.05 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.24 EPS for the current year.

Home Depot announced that its Board of Directors has approved a stock buyback program on Tuesday, August 15th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were given a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Wednesday, August 30th. Home Depot’s dividend payout ratio is currently 52.22%.

Analyst Ratings Changes

HD has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on Home Depot from $345.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, August 16th. DA Davidson increased their price objective on shares of Home Depot from $290.00 to $320.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. StockNews.com initiated coverage on Home Depot in a report on Thursday, August 17th. They set a “buy” rating on the stock. Truist Financial lifted their price objective on Home Depot from $348.00 to $372.00 and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Jefferies Financial Group upped their target price on Home Depot from $370.00 to $384.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $339.62.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.