Franklin Resources Inc. Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Franklin Resources Inc. raised its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 11.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,946,033 shares of the home improvement retailer’s stock after buying an additional 206,020 shares during the period. Franklin Resources Inc. owned about 0.19% of Home Depot worth $604,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Carnegie Capital Asset Management LLC lifted its position in shares of Home Depot by 7.2% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 47,911 shares of the home improvement retailer’s stock worth $14,883,000 after purchasing an additional 3,211 shares during the period. Outlook Wealth Advisors LLC lifted its position in shares of Home Depot by 3.6% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 4,960 shares of the home improvement retailer’s stock worth $1,541,000 after purchasing an additional 171 shares during the period. Impax Asset Management Group plc lifted its position in shares of Home Depot by 3.6% in the 2nd quarter. Impax Asset Management Group plc now owns 5,391 shares of the home improvement retailer’s stock worth $1,675,000 after purchasing an additional 186 shares during the period. Richard W. Paul & Associates LLC lifted its position in shares of Home Depot by 5.2% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 3,064 shares of the home improvement retailer’s stock worth $952,000 after purchasing an additional 152 shares during the period. Finally, Fortis Group Advisors LLC purchased a new stake in Home Depot during the first quarter valued at approximately $2,567,000. 68.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In other news, CAO Kimberly R. Scardino sold 1,375 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total value of $421,451.25. Following the transaction, the chief accounting officer now directly owns 6,744 shares of the company’s stock, valued at $2,067,103.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Want More Great Investing Ideas?

HD has been the subject of a number of analyst reports. Stifel Nicolaus decreased their target price on shares of Home Depot from $350.00 to $306.00 and set a “hold” rating for the company in a research report on Monday, November 13th. Jefferies Financial Group increased their target price on shares of Home Depot from $370.00 to $384.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. Evercore ISI upped their price target on shares of Home Depot from $360.00 to $370.00 and gave the company an “outperform” rating in a research note on Friday, September 8th. Royal Bank of Canada cut their price target on shares of Home Depot from $303.00 to $299.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 15th. Finally, DA Davidson upped their price target on shares of Home Depot from $290.00 to $320.00 and gave the company a “neutral” rating in a research note on Wednesday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $339.57.

Check Out Our Latest Research Report on Home Depot

Home Depot Price Performance

HD traded up $3.86 during midday trading on Thursday, hitting $309.20. 2,873,635 shares of the company traded hands, compared to its average volume of 3,453,520. The company has a current ratio of 1.30, a quick ratio of 0.33 and a debt-to-equity ratio of 28.37. The company has a market capitalization of $309.22 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.28 and a beta of 0.93. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $347.25. The business has a 50 day simple moving average of $297.47 and a two-hundred day simple moving average of $307.01.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.06. The firm had revenue of $37.71 billion for the quarter, compared to the consensus estimate of $37.59 billion. Home Depot had a net margin of 10.22% and a return on equity of 1,339.65%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the firm posted $4.24 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.05 earnings per share for the current fiscal year.

Home Depot announced that its board has initiated a stock buyback program on Tuesday, August 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase up to 4.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be paid a $2.09 dividend. This represents a $8.36 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s dividend payout ratio is currently 53.66%.

Home Depot Profile

(Free Report)

The Home Depot, Inc operates as a home improvement retailer. 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.