Sfmg LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Sfmg LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,379 shares of the home improvement retailer’s stock after buying an additional 127 shares during the period. Sfmg LLC’s holdings in Home Depot were worth $1,864,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HD. Fairfield Bush & CO. purchased a new stake in Home Depot during the first quarter valued at about $27,000. KB Financial Partners LLC purchased a new stake in Home Depot during the first quarter valued at about $28,000. Keener Financial Planning LLC purchased a new stake in Home Depot during the fourth quarter valued at about $31,000. PFG Private Wealth Management LLC boosted its position in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares during the period. Finally, Studio Investment Management LLC purchased a new stake in Home Depot during the fourth quarter valued at about $32,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $332.83 on Thursday. The firm’s 50-day simple moving average is $368.54 and its two-hundred day simple moving average is $339.01. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The stock has a market cap of $329.84 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. Home Depot’s dividend payout ratio is presently 59.60%.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Guggenheim reaffirmed a “buy” rating and set a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. Wells Fargo & Company upped their price objective on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Finally, Truist Financial reissued a “buy” rating and issued a $417.00 price target on shares of Home Depot in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $375.96.

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.