The Home Depot, Inc. $HD Shares Bought by Brooklyn Investment Group

Key Points

• Brooklyn Investment Group increased its holdings in The Home Depot by 31.1%, owning 7,990 shares valued at approximately $2.9 million at the end of the first quarter.
• Home Depot reported earnings of $3.56 per share for the quarter, slightly missing analyst estimates, although revenue rose to $39.86 billion, exceeding expectations.
• The company declared a quarterly dividend of $2.30 per share, which translates to an annualized dividend yield of 2.3%.

Brooklyn Investment Group increased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 31.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,990 shares of the home improvement retailer's stock after acquiring an additional 1,894 shares during the period. Home Depot makes up about 0.6% of Brooklyn Investment Group's investment portfolio, making the stock its 25th largest position. Brooklyn Investment Group's holdings in Home Depot were worth $2,928,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HD. Vanguard Group Inc. increased its position in shares of Home Depot by 0.8% during the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after purchasing an additional 720,447 shares during the period. Asset Planning Services Inc. LA ADV lifted its stake in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Home Depot by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after acquiring an additional 891,326 shares during the period. Northern Trust Corp lifted its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of HD opened at $399.29 on Monday. The firm has a market cap of $397.27 billion, a PE ratio of 27.09, a P/E/G ratio of 3.80 and a beta of 1.00. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The firm has a fifty day simple moving average of $370.47 and a two-hundred day simple moving average of $371.31. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.63 earnings per share. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HD shares. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. DA Davidson cut their price objective on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Mizuho dropped their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Royal Bank Of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Finally, Truist Financial reissued a "buy" rating and set a $433.00 price target (up from $417.00) on shares of Home Depot in a report on Wednesday, August 13th. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $427.48.

Insider Buying and Selling at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. 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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