Wheelhouse Advisory Group LLC Takes $250,000 Position in The Home Depot, Inc. (NYSE:HD)

Wheelhouse Advisory Group LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 722 shares of the home improvement retailer’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Congress Wealth Management LLC DE raised its position in Home Depot by 3.7% during the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after purchasing an additional 3,162 shares in the last quarter. Wolf Group Capital Advisors grew its stake in shares of Home Depot by 6.1% during the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after buying an additional 430 shares during the last quarter. Alliance Wealth Management Group bought a new stake in shares of Home Depot during the fourth quarter worth $253,000. Psagot Value Holdings Ltd. Israel grew its stake in shares of Home Depot by 8.0% during the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after buying an additional 200 shares during the last quarter. Finally, Zullo Investment Group Inc. grew its stake in shares of Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after buying an additional 504 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE HD opened at $335.36 on Friday. The firm’s 50-day moving average price is $367.36 and its 200-day moving average price is $339.21. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm has a market capitalization of $332.35 billion, a P/E ratio of 22.21, a P/E/G ratio of 2.22 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $34.64 billion. During the same quarter in the prior year, the business earned $3.30 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is currently 59.60%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research reports. Mizuho initiated coverage on shares of Home Depot in a research note on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price on the stock. Citigroup boosted their target price on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $311.00 to $400.00 in a research note on Tuesday, January 16th. Guggenheim reissued a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. Finally, Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated 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 approximately $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

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.