Teachers Retirement System of The State of Kentucky Acquires 37,784 Shares of The Home Depot, Inc. (NYSE:HD)

Teachers Retirement System of The State of Kentucky boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 20.1% during the second quarter, HoldingsChannel.com reports. The fund owned 225,763 shares of the home improvement retailer’s stock after purchasing an additional 37,784 shares during the period. Home Depot accounts for 0.7% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 13th largest holding. Teachers Retirement System of The State of Kentucky’s holdings in Home Depot were worth $77,716,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HD. Founders Financial Alliance LLC raised its holdings in shares of Home Depot by 1.9% in the 2nd quarter. Founders Financial Alliance LLC now owns 5,238 shares of the home improvement retailer’s stock worth $1,803,000 after buying an additional 98 shares in the last quarter. Ariadne Wealth Management LP bought a new stake in Home Depot in the second quarter valued at $1,142,000. Somnio Financial Group LLC bought a new position in shares of Home Depot during the second quarter valued at $252,000. Aldebaran Financial Inc. boosted its stake in shares of Home Depot by 3.9% in the 2nd quarter. Aldebaran Financial Inc. now owns 2,124 shares of the home improvement retailer’s stock valued at $731,000 after purchasing an additional 79 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new stake in shares of Home Depot in the 2nd quarter worth about $1,157,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 1.4 %

Shares of NYSE HD opened at $405.02 on Tuesday. The company’s 50 day simple moving average is $368.93 and its 200 day simple moving average is $355.11. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $405.31. The firm has a market capitalization of $401.62 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last announced 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 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the business posted $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. On average, analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Analyst Ratings Changes

Several brokerages recently issued reports on HD. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus decreased their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Piper Sandler upped their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday. Jefferies Financial Group started coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective on the stock. Finally, Evercore ISI decreased their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $394.08.

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.