Ballentine Partners LLC increased its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 4.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,856 shares of the home improvement retailer’s stock after acquiring an additional 696 shares during the quarter. Ballentine Partners LLC’s holdings in Home Depot were worth $4,975,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Covenant Asset Management LLC grew its holdings in shares of Home Depot by 2.5% in the 1st quarter. Covenant Asset Management LLC now owns 5,626 shares of the home improvement retailer’s stock worth $1,660,000 after acquiring an additional 135 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Home Depot in the 1st quarter worth $1,079,000. Lincoln Capital LLC grew its holdings in shares of Home Depot by 1.0% in the 1st quarter. Lincoln Capital LLC now owns 3,777 shares of the home improvement retailer’s stock worth $1,115,000 after acquiring an additional 36 shares during the last quarter. FORVIS Wealth Advisors LLC boosted its position in shares of Home Depot by 4.2% in the first quarter. FORVIS Wealth Advisors LLC now owns 8,229 shares of the home improvement retailer’s stock worth $2,429,000 after buying an additional 334 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of Home Depot by 15.3% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 3,522 shares of the home improvement retailer’s stock worth $1,039,000 after buying an additional 467 shares during the period. 69.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Home Depot
In related news, EVP Hector A. Padilla sold 1,502 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total transaction of $440,221.18. Following the transaction, the executive vice president now directly owns 13,958 shares in the company, valued at $4,090,950.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.
Home Depot Trading Up 0.6 %
Home Depot stock opened at $316.50 on Monday. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27. The business’s 50-day simple moving average is $299.13 and its 200-day simple moving average is $302.22. The firm has a market capitalization of $318.20 billion, a PE ratio of 19.29, a PEG ratio of 2.06 and a beta of 0.94. The Home Depot, Inc. has a 52 week low of $265.61 and a 52 week high of $347.25.
Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. The business had revenue of $37.26 billion for the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.09 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 14.97 earnings per share for the current year.
Home Depot Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $2.09 per share. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 annualized dividend and a yield of 2.64%. Home Depot’s dividend payout ratio is 50.94%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on HD. Wedbush decreased their target price on Home Depot from $300.00 to $290.00 in a research report on Wednesday, May 17th. The Goldman Sachs Group decreased their target price on Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Truist Financial raised their target price on Home Depot from $318.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird raised their target price on Home Depot from $310.00 to $330.00 in a research report on Tuesday, June 13th. Finally, Sanford C. Bernstein reduced their price objective on Home Depot from $333.00 to $314.00 in a research report on Wednesday, May 17th. Twelve investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $324.50.
Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. 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.
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