GM Advisory Group Inc. Acquires 50 Shares of Home Depot Inc (NYSE:HD)
GM Advisory Group Inc. increased its holdings in shares of Home Depot Inc (NYSE:HD) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,237 shares of the home improvement retailer’s stock after buying an additional 50 shares during the period. GM Advisory Group Inc.’s holdings in Home Depot were worth $418,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Your Advocates Ltd. LLP bought a new stake in shares of Home Depot during the first quarter worth approximately $27,000. Lion Street Advisors LLC bought a new stake in shares of Home Depot during the first quarter worth approximately $28,000. Evolution Wealth Advisors LLC raised its stake in shares of Home Depot by 85.9% during the fourth quarter. Evolution Wealth Advisors LLC now owns 158 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 73 shares during the last quarter. Stonebridge Financial Planning Group LLC bought a new stake in shares of Home Depot during the fourth quarter worth approximately $51,000. Finally, Cordasco Financial Network raised its stake in shares of Home Depot by 120.5% during the first quarter. Cordasco Financial Network now owns 247 shares of the home improvement retailer’s stock worth $46,000 after buying an additional 135 shares during the last quarter. 69.85% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. Barclays reissued a “buy” rating and set a $260.00 price target (up from $235.00) on shares of Home Depot in a research note on Wednesday, May 20th. Wells Fargo & Co upped their target price on shares of Home Depot from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Piper Sandler upped their target price on shares of Home Depot from $231.00 to $236.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. They noted that the move was a valuation call. CSFB upped their target price on shares of Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Finally, SunTrust Banks lowered their target price on shares of Home Depot from $240.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $252.03.
Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.19). Home Depot had a net margin of 9.79% and a negative return on equity of 496.11%. The company had revenue of $28.26 billion during the quarter, compared to analyst estimates of $27.59 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Home Depot Inc will post 9.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $6.00 annualized dividend and a yield of 2.39%. Home Depot’s payout ratio is 58.54%.
In other Home Depot news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the completion of the transaction, the executive vice president now owns 54,405 shares in the company, valued at approximately $12,840,668.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William G. Lennie sold 9,848 shares of Home Depot stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $234.34, for a total transaction of $2,307,780.32. Following the completion of the sale, the executive vice president now owns 37,995 shares of the company’s stock, valued at approximately $8,903,748.30. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.
Home Depot Company 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.
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