Copley Financial Group Inc. Invests $607,000 in The Home Depot, Inc. (NYSE:HD)

Copley Financial Group Inc. purchased a new position in The Home Depot, Inc. (NYSE:HD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,498 shares of the home improvement retailer’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc increased its position in Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares during the last quarter. Pegasus Asset Management Inc. increased its position in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the last quarter. Swedbank AB increased its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares during the last quarter. LGT Group Foundation increased its position in Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Home Depot by 14.3% during the third quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after purchasing an additional 84,062 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 in the last 90 days. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent analyst reports. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Morgan Stanley lifted their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Guggenheim lifted their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Sanford C. Bernstein initiated coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Up 0.1 %

Shares of NYSE:HD traded up $0.24 during trading on Friday, hitting $414.66. 255,470 shares of the company were exchanged, compared to its average volume of 3,361,576. The stock has a market capitalization of $411.91 billion, a P/E ratio of 28.16, a PEG ratio of 2.93 and a beta of 1.03. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm’s 50 day moving average price is $411.62 and its 200-day moving average price is $377.35.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.81 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is presently 61.14%.

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.