Franklin Resources Inc. Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Franklin Resources Inc. boosted its stake in The Home Depot, Inc. (NYSE:HD) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 937,795 shares of the home improvement retailer’s stock after purchasing an additional 5,968 shares during the quarter. Franklin Resources Inc. owned about 0.09% of Home Depot worth $324,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Bare Financial Services Inc bought a new stake in shares of Home Depot during the 4th quarter valued at $26,000. Keener Financial Planning LLC bought a new position in shares of Home Depot in the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC increased its holdings in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 32 shares in the last quarter. Gilfoyle & Co LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $35,000. Finally, Briaud Financial Planning Inc purchased a new stake in Home Depot during the 3rd quarter valued at approximately $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Wedbush reiterated an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research report on Friday, May 10th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. Finally, Raymond James reiterated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $377.46.

Home Depot Price Performance

Shares of HD stock traded down $3.06 during trading hours on Wednesday, hitting $333.09. 921,475 shares of the company’s stock were exchanged, compared to its average volume of 3,363,307. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The firm has a market cap of $330.10 billion, a P/E ratio of 22.35, a P/E/G ratio of 2.27 and a beta of 1.01. The firm has a 50 day moving average of $353.45 and a two-hundred day moving average of $347.61.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the prior year, the business earned $3.82 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.31 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. Home Depot’s payout ratio is currently 60.36%.

Insider Buying and Selling

In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on 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 completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The disclosure for this sale can be found here. Insiders have sold 100,991 shares of company stock worth $35,915,914 in the last quarter. 0.10% of the stock is owned by insiders.

Home Depot 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.