Lynx Investment Advisory Makes New $152,000 Investment in The Home Depot, Inc. (NYSE:HD)

Lynx Investment Advisory bought a new position in shares of The Home Depot, Inc. (NYSE:HD) during the second quarter, HoldingsChannel.com reports. The firm bought 443 shares of the home improvement retailer’s stock, valued at approximately $152,000.

A number of other hedge funds also recently added to or reduced their stakes in HD. Norges Bank purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $4,311,070,000. International Assets Investment Management LLC increased its position in shares of Home Depot by 12,647.4% in the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Home Depot in the 1st quarter valued at approximately $513,016,000. Jennison Associates LLC grew its position in shares of Home Depot by 38.4% in the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after buying an additional 1,207,388 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after buying an additional 992,444 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HD. Citigroup dropped their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Evercore ISI increased their target price on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Wells Fargo & Company dropped their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Truist Financial lowered their price objective on shares of Home Depot from $406.00 to $396.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $384.00.

Home Depot Price Performance

Shares of NYSE HD traded up $3.72 during midday trading on Tuesday, hitting $353.73. The company had a trading volume of 2,830,862 shares, compared to its average volume of 3,408,902. 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 business has a 50-day simple moving average of $346.68 and a two-hundred day simple moving average of $353.39. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The firm has a market capitalization of $350.76 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. During the same period last year, the firm posted $3.82 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Insider Transactions at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

About Home Depot

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.