Emerald Investment Partners LLC bought a new stake in shares of Home Depot Inc (NYSE:HD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,071 shares of the home improvement retailer’s stock, valued at approximately $200,000.
A number of other institutional investors have also made changes to their positions in HD. Your Advocates Ltd. LLP bought a new position in Home Depot in the 1st quarter valued at $27,000. Lion Street Advisors LLC bought a new position in Home Depot in the 1st quarter valued at $28,000. Evolution Wealth Advisors LLC grew its position in Home Depot by 85.9% in the 4th quarter. Evolution Wealth Advisors LLC now owns 158 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 73 shares during the last quarter. Cordasco Financial Network grew its position in Home Depot by 120.5% in the 1st quarter. Cordasco Financial Network now owns 247 shares of the home improvement retailer’s stock valued at $46,000 after acquiring an additional 135 shares during the last quarter. Finally, Danda Trouve Investment Management Inc. grew its position in Home Depot by 960.0% in the 1st quarter. Danda Trouve Investment Management Inc. now owns 265 shares of the home improvement retailer’s stock valued at $49,000 after acquiring an additional 240 shares during the last quarter. 69.85% of the stock is currently owned by institutional investors.
In related news, EVP William G. Lennie sold 17,993 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $236.02, for a total value of $4,246,707.86. Following the completion of the sale, the executive vice president now directly owns 54,405 shares in the company, valued at approximately $12,840,668.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William G. Lennie sold 9,848 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $234.34, for a total value of $2,307,780.32. Following the completion of the sale, the executive vice president now owns 37,995 shares of the company’s stock, valued at $8,903,748.30. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on HD. Wedbush upped their target price on Home Depot from $200.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Royal Bank of Canada upped their price objective on Home Depot from $261.00 to $266.00 in a research note on Wednesday, May 20th. Piper Sandler increased their price target on Home Depot from $231.00 to $236.00 and gave the company a “neutral” rating in a research note on Friday, May 15th. They noted that the move was a valuation call. Morgan Stanley increased their price objective on Home Depot from $215.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. Finally, Telsey Advisory Group raised their target price on Home Depot from $220.00 to $250.00 and gave the stock a “market perform” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $252.03.
Shares of HD opened at $248.39 on Tuesday. The firm has a market capitalization of $265.97 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.29 and a beta of 1.06. The stock’s fifty day simple moving average is $225.18 and its 200 day simple moving average is $220.01. Home Depot Inc has a twelve month low of $140.63 and a twelve month high of $252.23.
Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.19). The firm had revenue of $28.26 billion during the quarter, compared to analysts’ expectations of $27.59 billion. Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $2.27 earnings per share. On average, equities research analysts forecast that Home Depot Inc will post 9.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a $1.50 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $6.00 annualized dividend and a yield of 2.42%. Home Depot’s dividend payout ratio is currently 58.54%.
Home Depot Profile
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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