808 Shares in The Home Depot, Inc. (NYSE:HD) Bought by Leith Wheeler Investment Counsel Ltd.

Key Points

• Leith Wheeler Investment Counsel Ltd. acquired 808 shares of The Home Depot, Inc., valued at approximately $296,000, indicating growing institutional interest in the company.
• Several hedge funds have adjusted their positions in Home Depot, with institutional investors owning 70.86% of the company's stock, reflecting strong institutional confidence.
• Home Depot reported a quarterly EPS of $3.56, missing estimates slightly, while revenues were up 9.4% year-over-year, showcasing robust growth despite the EPS miss.

Leith Wheeler Investment Counsel Ltd. purchased a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 808 shares of the home improvement retailer's stock, valued at approximately $296,000.

Other hedge funds also recently modified their holdings of the company. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter valued at about $29,000. Abound Financial LLC acquired a new stake in Home Depot in the first quarter valued at about $31,000. Quarry LP boosted its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after buying an additional 30 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction 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 sale, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction 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 owned 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HD shares. Robert W. Baird reduced their price objective on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Truist Financial lifted their price target on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. DA Davidson cut their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Royal Bank Of Canada cut their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Finally, Jefferies Financial Group cut their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Trading Up 2.2%

NYSE HD opened at $396.07 on Wednesday. The company has a market cap of $394.06 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business has a 50 day moving average price of $368.49 and a 200-day moving average price of $371.95. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) 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 firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.63 EPS. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio is 62.42%.

About Home Depot

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.