The Home Depot, Inc. (NYSE:HD) Shares Sold by Paragon Capital Management Ltd

Paragon Capital Management Ltd reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 22.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,415 shares of the home improvement retailer’s stock after selling 421 shares during the period. Paragon Capital Management Ltd’s holdings in Home Depot were worth $440,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HD. Willis Investment Counsel boosted its position in shares of Home Depot by 0.4% in the first quarter. Willis Investment Counsel now owns 98,795 shares of the home improvement retailer’s stock worth $29,156,000 after acquiring an additional 433 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Home Depot in the first quarter worth approximately $1,332,000. Howard Financial Services LTD. boosted its position in shares of Home Depot by 7.2% in the first quarter. Howard Financial Services LTD. now owns 727 shares of the home improvement retailer’s stock worth $215,000 after acquiring an additional 49 shares during the last quarter. Value Partners Investments Inc. boosted its position in shares of Home Depot by 20.2% in the first quarter. Value Partners Investments Inc. now owns 132,439 shares of the home improvement retailer’s stock worth $39,081,000 after acquiring an additional 22,217 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Home Depot by 3.0% in the first quarter. CWM LLC now owns 101,411 shares of the home improvement retailer’s stock worth $29,928,000 after acquiring an additional 2,984 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Home Depot stock opened at $317.26 on Tuesday. The company has a market cap of $317.28 billion, a PE ratio of 19.82, a P/E/G ratio of 2.22 and a beta of 0.95. The company has a fifty day moving average price of $325.92 and a two-hundred day moving average price of $305.38. 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 Home Depot, Inc. has a 12 month low of $265.61 and a 12 month high of $347.25.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 15th. The home improvement retailer reported $4.65 earnings per share (EPS) for the quarter, beating 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 company had revenue of $42.92 billion during the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter in the previous year, the company posted $5.05 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Research analysts expect that The Home Depot, Inc. will post 15.24 earnings per share for the current year.

Home Depot Dividend Announcement

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

Home Depot announced that its board has initiated 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 buy up to 4.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently issued reports on HD. Stifel Nicolaus assumed coverage on shares of Home Depot in a research report on Wednesday, September 6th. They issued a “hold” rating and a $350.00 target price on the stock. Truist Financial raised their price target on shares of Home Depot from $348.00 to $372.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. The Goldman Sachs Group raised their price target on shares of Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Jefferies Financial Group raised their price target on shares of Home Depot from $370.00 to $384.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Finally, Wedbush raised their price target on shares of Home Depot from $290.00 to $350.00 and gave the company a “neutral” 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $339.62.

Insider Activity at Home Depot

In related news, CAO Kimberly R. Scardino sold 1,600 shares of Home Depot stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total transaction of $522,704.00. Following the sale, the chief accounting officer now directly owns 8,281 shares in the company, valued at $2,705,319.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 12,120 shares of the business’s stock in a transaction dated 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 directly owns 73,049 shares in the company, valued at $23,770,144.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Kimberly R. Scardino sold 1,600 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was 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 in the company, valued at approximately $2,705,319.89. The disclosure for this sale can be found here. Insiders have sold a total of 19,811 shares of company stock worth $6,441,376 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

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.