Peoples Financial Services CORP. lifted its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,450 shares of the home improvement retailer’s stock after purchasing an additional 360 shares during the period. Peoples Financial Services CORP.’s holdings in Home Depot were worth $2,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Slow Capital Inc. purchased a new stake in Home Depot in the 1st quarter worth $25,000. Kalos Management Inc. acquired a new stake in shares of Home Depot in the first quarter valued at about $26,000. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the first quarter worth about $27,000. KB Financial Partners LLC acquired a new position in shares of Home Depot during the 1st quarter worth about $28,000. Finally, Studio Investment Management LLC purchased a new position in Home Depot in the 4th quarter valued at about $32,000. 68.34% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
HD has been the subject of a number of research analyst reports. DA Davidson increased their target price on Home Depot from $290.00 to $320.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Oppenheimer restated an “outperform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Wednesday, August 9th. Wells Fargo & Company upped their target price on shares of Home Depot from $345.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, August 16th. Robert W. Baird boosted their price target on shares of Home Depot from $330.00 to $360.00 in a research report on Tuesday, August 15th. Finally, Jefferies Financial Group upped their price objective on shares of Home Depot from $370.00 to $384.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $339.62.
Insider Transactions at Home Depot
In related news, EVP Timothy A. Hourigan sold 12,120 shares of the business’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the transaction, the executive vice president now directly owns 73,049 shares of the company’s stock, valued at approximately $23,770,144.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Timothy A. Hourigan sold 12,120 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total value of $3,943,848.00. Following the sale, the executive vice president now owns 73,049 shares of the company’s stock, valued at $23,770,144.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the executive vice president now owns 22,749 shares of the company’s stock, valued at approximately $7,375,680.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,811 shares of company stock valued at $6,441,376. 0.19% of the stock is currently owned by company insiders.
Home Depot Trading Down 1.3 %
Shares of NYSE HD opened at $317.26 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.35 and a debt-to-equity ratio of 30.53. The stock has a market capitalization of $317.28 billion, a PE ratio of 19.82, a PEG ratio of 2.22 and a beta of 0.95. The Home Depot, Inc. has a twelve month low of $265.61 and a twelve month high of $347.25. The stock has a fifty day simple moving average of $325.92 and a 200-day simple moving average of $305.38.
Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.45 by $0.20. The company had revenue of $42.92 billion for the quarter, compared to analyst estimates of $42.19 billion. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.05 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.24 earnings per share for the current year.
Home Depot Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Shareholders of record on Thursday, August 31st were paid a $2.09 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $8.36 annualized dividend and a dividend yield of 2.64%. Home Depot’s dividend payout ratio (DPR) is 52.22%.
Home Depot announced that its Board of Directors has initiated a share buyback program on Tuesday, August 15th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the home improvement retailer to purchase up to 4.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
About Home Depot
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.
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