Legacy Financial Advisors Inc. Boosts Position in The Home Depot, Inc. (NYSE:HD)

Legacy Financial Advisors Inc. lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 15.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,486 shares of the home improvement retailer’s stock after purchasing an additional 1,000 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Home Depot were worth $2,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in HD. International Assets Investment Management LLC increased its position in Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock worth $1,930,104,000 after buying an additional 5,525,791 shares in the last quarter. Jennison Associates LLC boosted its stake in Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after buying an additional 1,207,388 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Home Depot in the third quarter worth $207,210,000. Envestnet Asset Management Inc. raised its position in shares of Home Depot by 20.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,468,902 shares of the home improvement retailer’s stock valued at $746,003,000 after buying an additional 421,619 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Home Depot by 11.3% in the 3rd quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after purchasing an additional 346,641 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Activity at Home Depot

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HD. Truist Financial reissued a “buy” rating and issued a $417.00 price objective on shares of Home Depot in a research report on Wednesday, April 17th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a research report on Monday, April 1st. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Evercore ISI decreased their price objective on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Finally, Citigroup lifted their price target on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Stock Up 2.2 %

Home Depot stock traded up $7.32 during midday trading on Friday, reaching $342.85. The company’s stock had a trading volume of 4,165,054 shares, compared to its average volume of 3,606,830. The business has a 50-day simple moving average of $361.75 and a 200-day simple moving average of $342.08. The company has a market cap of $339.77 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 1.01. 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 quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 earnings per share. On average, research analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a dividend of $2.25 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.63%. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

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.