Baer Investment Advisory LLC Makes New $2.37 Million Investment in The Home Depot, Inc. (NYSE:HD)

Baer Investment Advisory LLC bought a new position in The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,680 shares of the home improvement retailer's stock, valued at approximately $2,367,000. Home Depot comprises 4.9% of Baer Investment Advisory LLC's portfolio, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Griffith & Werner Inc. acquired a new position in shares of Home Depot during the 4th quarter worth approximately $3,599,000. Castlekeep Investment Advisors LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $1,211,000. Peak Retirement Planning Inc. acquired a new position in shares of Home Depot during the 4th quarter worth approximately $248,000. Drucker Wealth 3.0 LLC boosted its holdings in shares of Home Depot by 7.1% during the 4th quarter. Drucker Wealth 3.0 LLC now owns 724 shares of the home improvement retailer's stock worth $282,000 after purchasing an additional 48 shares during the last quarter. Finally, Ball & Co Wealth Management Inc. acquired a new position in Home Depot in the fourth quarter valued at approximately $92,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business's 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 owns 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.5%

Shares of HD traded down $1.94 during mid-day trading on Thursday, reaching $366.12. The company had a trading volume of 1,163,081 shares, compared to its average volume of 3,421,849. The stock has a market cap of $363.93 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm has a fifty day simple moving average of $360.70 and a 200-day simple moving average of $386.56. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.63 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.51%. Home Depot's payout ratio is 62.42%.

Analyst Ratings Changes

A number of analysts have recently weighed in on HD shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday, May 20th. KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

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.