PGGM Investments Buys 12,727 Shares of The Home Depot, Inc. (NYSE:HD)

PGGM Investments boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 63.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,768 shares of the home improvement retailer’s stock after purchasing an additional 12,727 shares during the quarter. PGGM Investments’ holdings in Home Depot were worth $11,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bare Financial Services Inc purchased a new stake in Home Depot in the fourth quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new stake in Home Depot in the 4th quarter worth approximately $27,000. Burkett Financial Services LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $38,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot during the 1st quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new position in Home Depot during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

HD traded up $5.48 during midday trading on Wednesday, hitting $355.55. 4,813,288 shares of the company traded hands, compared to its average volume of 3,433,010. The business has a 50 day simple moving average of $349.46 and a two-hundred day simple moving average of $353.16. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a market capitalization of $352.57 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.48 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the company posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Insider Activity at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HD shares. TD Cowen reduced their target price on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $352.00 to $395.00 in a research note on Wednesday, June 26th. Truist Financial decreased their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday. Loop Capital cut their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Wedbush restated an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $384.00.

Home Depot 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.