Donald L. Hagan LLC has reduced its holdings in The Home Depot, Inc. by 9.5% during the second quarter, according to a recent filing with the Securities & Exchange Commission. The institutional investor now holds 3,574 shares of the home improvement retailer’s stock, down from 3,951 shares. The current value of Donald L. Hagan LLC’s stake in Home Depot is approximately $1.11 million.
Several other hedge funds and institutional investors have also made changes to their holdings of Home Depot stock. BCK Partners Inc. acquired a new stake worth $2.93 million during the first quarter, while Fairfield Bush & CO. acquired a new stake worth $27,000. Ergoteles LLC also acquired a new stake during the first quarter, worth $1.55 million. Equitable Holdings Inc. increased its stake by 7.4% during the first quarter, now owning 14,628 shares valued at $4.38 million. First Trust Advisors LP raised its stake by 3.2% during the same period, now owning 791,318 shares valued at $236.87 million.
Currently, 68.34% of Home Depot’s stock is held by hedge funds and other institutional investors.
Home Depot’s stock opened at $301.92 on Thursday, and has a market capitalization of $301.94 billion. The company’s P/E ratio is 18.86, and it has a P/E/G ratio of 2.12. The stock has a beta of 0.95 and a 52-week low of $267.86 and high of $347.25. The company’s 50-day simple moving average is $324.75, while the 200-day simple moving average is $306.19. Home Depot has a quick ratio of 0.35 and a current ratio of 1.31, with a debt-to-equity ratio of 30.53.
In its latest earnings report released on August 15th, Home Depot reported earnings per share of $4.65, beating analysts’ expectations by $0.20. The company had revenue of $42.92 billion for the quarter, surpassing estimates of $42.19 billion. Home Depot’s net margin is 10.48%, with a return on equity of 1,424.89%. However, the company’s quarterly revenue was down 2.0% compared to the previous year.
For the current fiscal year, analysts anticipate that Home Depot will post $15.24 earnings per share.
Additionally, Home Depot recently announced a quarterly dividend of $2.09 per share, which was paid on September 14th. Investors who were recorded as of August 31st received the dividend. This represents an annualized dividend of $8.36 and a yield of 2.77%. Home Depot’s payout ratio is currently 52.22%.
The company’s board has authorized a stock repurchase plan worth $15.00 billion, allowing Home Depot to buy back up to 4.6% of its stock through open market purchases. This is typically seen as an indication that the board believes the stock is undervalued.
Various Wall Street analysts have provided their ratings on Home Depot’s stock. Citigroup raised their price objective from $327.00 to $375.00 and gave the stock a “buy” rating. Evercore ISI also raised their price target from $360.00 to $370.00, rating the stock as “outperform”. Telsey Advisory Group raised their target price from $315.00 to $335.00, while Morgan Stanley raised their target price from $320.00 to $350.00, both giving the stock a rating of “overweight”. Overall, according to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $340.47.
In related news, EVP Timothy A. Hourigan sold 12,120 shares of Home Depot’s stock on August 24th. The shares were sold at an average price of $325.40, bringing the total transaction value to $3,943,848.00. Following this transaction, the executive vice president now owns 73,049 shares in the company, valued at approximately $23.77 million. Another executive vice president, Teresa Wynn Roseborough, sold 6,091 shares on August 22nd at an average price of $324.22, with a total value of $1,974,824.02.
Sources:
– Bloomberg
– SEC Edgar Database