Biltmore Family Office LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Biltmore Family Office LLC increased its holdings in The Home Depot by 76.2% during the first quarter, owning a total of 8,048 shares valued at approximately $2.95 million.
• The Home Depot recently reported $3.56 EPS for the quarter, missing estimates, but generated a revenue of $39.86 billion, surpassing expectations with a year-over-year revenue increase of 9.4%.
• The company declared a quarterly dividend of $2.30 per share, which represents a 2.4% dividend yield, and has a payout ratio of 62.42%.

Biltmore Family Office LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 76.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,048 shares of the home improvement retailer's stock after purchasing an additional 3,481 shares during the quarter. Biltmore Family Office LLC's holdings in Home Depot were worth $2,950,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Navigoe LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in shares of Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC grew its holdings in shares of Home Depot by 86.8% during 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 during the last quarter. Quarry LP grew its holdings in shares of Home Depot by 220.0% during 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 during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its holdings in shares of Home Depot by 35.7% during 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 during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Up 0.4%

Shares of HD stock opened at $387.77 on Friday. The company has a market capitalization of $385.80 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company's fifty day moving average price is $367.64 and its 200-day moving average price is $372.26. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last announced 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 firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analyst Weigh In

HD has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Mizuho dropped their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Monday, June 30th. Robert W. Baird dropped their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Finally, Truist Financial raised their target price 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. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction on 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 sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Company 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.

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