M1 Capital Management LLC Purchases New Shares in The Home Depot, Inc. (NYSE:HD)

M1 Capital Management LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 921 shares of the home improvement retailer's stock, valued at approximately $358,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after buying an additional 257,036 shares in the last quarter. Norges Bank acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $5,032,910,000. Capital Research Global Investors increased its stake in shares of Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after acquiring an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HD shares. Truist Financial raised their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and raised their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Jefferies Financial Group dropped their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Finally, DA Davidson cut their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Trading Down 0.1%

Shares of HD opened at $367.85 on Monday. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The business has a 50-day moving average of $360.92 and a 200 day moving average of $385.73. The firm has a market cap of $365.98 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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 analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the business posted $3.63 earnings per share. Home Depot's revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.50%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

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.