Coastal Investment Advisors Inc. Buys 3,197 Shares of Home Depot Inc (NYSE:HD)

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Coastal Investment Advisors Inc. grew its holdings in Home Depot Inc (NYSE:HD) by 56.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,821 shares of the home improvement retailer’s stock after purchasing an additional 3,197 shares during the period. Home Depot makes up about 0.8% of Coastal Investment Advisors Inc.’s holdings, making the stock its 18th biggest position. Coastal Investment Advisors Inc.’s holdings in Home Depot were worth $2,450,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Home Depot by 6.7% in the second quarter. Vanguard Group Inc. now owns 91,547,627 shares of the home improvement retailer’s stock valued at $22,933,597,000 after purchasing an additional 5,714,595 shares during the period. FMR LLC raised its position in shares of Home Depot by 2.4% in the second quarter. FMR LLC now owns 19,084,248 shares of the home improvement retailer’s stock valued at $4,780,796,000 after purchasing an additional 441,321 shares during the period. Bank of New York Mellon Corp raised its position in shares of Home Depot by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 10,095,006 shares of the home improvement retailer’s stock valued at $2,528,899,000 after purchasing an additional 43,968 shares during the period. Morgan Stanley raised its position in shares of Home Depot by 2.4% in the first quarter. Morgan Stanley now owns 9,255,927 shares of the home improvement retailer’s stock valued at $1,728,173,000 after purchasing an additional 216,078 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Home Depot by 3.0% in the second quarter. Fisher Asset Management LLC now owns 6,391,543 shares of the home improvement retailer’s stock valued at $1,601,145,000 after purchasing an additional 183,830 shares during the period. 69.00% of the stock is currently owned by institutional investors.

HD traded up $1.84 during trading on Friday, hitting $283.00. 1,750,747 shares of the stock traded hands, compared to its average volume of 4,899,439. The firm has a market capitalization of $304.64 billion, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 2.36 and a beta of 1.09. The firm has a 50-day moving average of $278.20 and a 200 day moving average of $254.81. Home Depot Inc has a 12-month low of $140.63 and a 12-month high of $292.95.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.82. The business had revenue of $38.05 billion during the quarter, compared to analysts’ expectations of $32.13 billion. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.17 EPS. As a group, equities research analysts expect that Home Depot Inc will post 11.41 EPS for the current fiscal year.

In other Home Depot news, EVP Teresa Wynn Roseborough sold 41,947 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $279.83, for a total value of $11,738,029.01. Also, EVP Matt Carey sold 50,478 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the completion of the transaction, the executive vice president now owns 62,735 shares of the company’s stock, valued at $17,341,836.05. The disclosure for this sale can be found here. Insiders have sold a total of 119,304 shares of company stock valued at $32,088,591 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

A number of analysts recently weighed in on HD shares. Gordon Haskett raised shares of Home Depot from a “hold” rating to an “accumulate” rating and set a $306.00 target price on the stock in a report on Wednesday, August 12th. Truist Financial upped their target price on shares of Home Depot from $240.00 to $300.00 in a report on Wednesday, August 12th. Argus upped their target price on shares of Home Depot from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. UBS Group upped their target price on shares of Home Depot from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, August 19th. Finally, Telsey Advisory Group upped their target price on shares of Home Depot from $290.00 to $300.00 and gave the stock a “market perform” rating in a report on Wednesday, August 19th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Home Depot presently has an average rating of “Buy” and an average target price of $290.00.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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