Accredited Investors Inc. Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Accredited Investors Inc. increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,367 shares of the home improvement retailer’s stock after purchasing an additional 306 shares during the period. Accredited Investors Inc.’s holdings in Home Depot were worth $1,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. grew its stake in shares of Home Depot by 1.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,629,491 shares of the home improvement retailer’s stock valued at $560,936,000 after buying an additional 26,328 shares in the last quarter. AAFMAA Wealth Management & Trust LLC grew its position in Home Depot by 1.9% in the second quarter. AAFMAA Wealth Management & Trust LLC now owns 4,883 shares of the home improvement retailer’s stock valued at $1,681,000 after acquiring an additional 93 shares in the last quarter. Sara Bay Financial raised its stake in shares of Home Depot by 59.5% during the second quarter. Sara Bay Financial now owns 5,818 shares of the home improvement retailer’s stock valued at $2,003,000 after purchasing an additional 2,171 shares during the period. Milestone Asset Management LLC purchased a new stake in shares of Home Depot during the second quarter valued at approximately $235,000. Finally, Apollon Wealth Management LLC lifted its position in shares of Home Depot by 1.8% during the second quarter. Apollon Wealth Management LLC now owns 57,270 shares of the home improvement retailer’s stock worth $19,715,000 after purchasing an additional 1,009 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

HD stock traded up $1.01 during mid-day trading on Monday, reaching $363.07. The company had a trading volume of 3,613,801 shares, compared to its average volume of 3,435,387. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The stock has a market capitalization of $360.03 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.48 and a beta of 0.98. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The stock’s 50-day simple moving average is $351.35 and its two-hundred day simple moving average is $353.25.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $42.57 billion. During the same period last year, the firm posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Analysts Set New Price Targets

HD has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. TD Cowen lowered their price objective 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. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Truist Financial reduced their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Finally, Loop Capital dropped their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $386.33.

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.