Quad Cities Investment Group LLC Invests $350,000 in Home Depot Inc (HD)
Quad Cities Investment Group LLC bought a new position in shares of Home Depot Inc (NYSE:HD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,955 shares of the home improvement retailer’s stock, valued at approximately $350,000.
Several other hedge funds have also made changes to their positions in HD. Cypress Wealth Services LLC purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $369,000. Aries Wealth Management purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $1,584,000. Benedict Financial Advisors Inc. lifted its holdings in shares of Home Depot by 4.5% during the fourth quarter. Benedict Financial Advisors Inc. now owns 6,592 shares of the home improvement retailer’s stock valued at $1,249,000 after purchasing an additional 285 shares during the last quarter. Hedeker Wealth LLC lifted its holdings in shares of Home Depot by 4.5% during the fourth quarter. Hedeker Wealth LLC now owns 11,795 shares of the home improvement retailer’s stock valued at $2,235,000 after purchasing an additional 513 shares during the last quarter. Finally, Concentric Wealth Management LLC lifted its holdings in shares of Home Depot by 7.2% during the fourth quarter. Concentric Wealth Management LLC now owns 6,392 shares of the home improvement retailer’s stock valued at $1,211,000 after purchasing an additional 430 shares during the last quarter. Institutional investors own 68.94% of the company’s stock.
In related news, Director Stephanie Linnartz bought 1,000 shares of the business’s stock in a transaction on Friday, June 1st. The stock was acquired at an average price of $187.57 per share, with a total value of $187,570.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.
Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 14th. The home improvement retailer reported $3.05 EPS for the quarter, topping analysts’ consensus estimates of $2.84 by $0.21. Home Depot had a net margin of 8.85% and a return on equity of 399.15%. The business had revenue of $30.46 billion during the quarter, compared to the consensus estimate of $30.04 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. sell-side analysts forecast that Home Depot Inc will post 9.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 13th. Shareholders of record on Thursday, August 30th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.11%. Home Depot’s dividend payout ratio (DPR) is presently 55.23%.
HD has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Home Depot from a “hold” rating to a “buy” rating and set a $223.00 price objective for the company in a report on Tuesday, July 17th. Wells Fargo & Co initiated coverage on shares of Home Depot in a report on Monday, April 23rd. They issued an “outperform” rating and a $205.00 price objective for the company. Credit Suisse Group set a $222.00 price objective on shares of Home Depot and gave the stock a “buy” rating in a report on Monday, May 14th. Bank of America restated a “buy” rating and issued a $215.00 price objective on shares of Home Depot in a report on Tuesday, May 15th. Finally, Loop Capital set a $200.00 price objective on shares of Home Depot and gave the stock a “hold” rating in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Home Depot presently has a consensus rating of “Buy” and an average target price of $203.35.
Home Depot Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
Further Reading: Outstanding Shares and The Effect on Share Price
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