Lakeridge Wealth Management LLC Purchases 49 Shares of The Home Depot, Inc. (NYSE:HD)

Lakeridge Wealth Management LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,528 shares of the home improvement retailer’s stock after acquiring an additional 49 shares during the period. Lakeridge Wealth Management LLC’s holdings in Home Depot were worth $560,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Home Depot in the fourth quarter valued at about $5,032,910,000. GAMMA Investing LLC lifted its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the period. Raymond James Financial Inc. acquired a new position in Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC lifted its stake in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the period. Finally, Northern Trust Corp lifted its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 2.5%

NYSE HD opened at $354.10 on Friday. The company has a market capitalization of $352.31 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 4.03 and a beta of 1.02. The stock’s 50-day simple moving average is $362.73 and its two-hundred day simple moving average is $382.81. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.63 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.60%. Home Depot’s payout ratio is 62.42%.

Analysts Set New Price Targets

HD has been the topic of several analyst reports. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. TD Securities lowered Home Depot to a “buy” rating in a research report on Monday, June 2nd. Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Finally, Royal Bank of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.