Cardinal Capital Management Inc. Has $31.53 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Cardinal Capital Management Inc. boosted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,021 shares of the home improvement retailer's stock after acquiring an additional 7,924 shares during the period. Cardinal Capital Management Inc.'s holdings in Home Depot were worth $31,526,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. K.J. Harrison & Partners Inc raised its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Wealth Management Partners LLC raised its holdings in shares of Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after purchasing an additional 36 shares during the period. Ashton Thomas Private Wealth LLC grew its position in shares of Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after acquiring an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. bought a new position in shares of Home Depot during the fourth quarter worth about $409,000. Finally, ARS Wealth Advisors Group LLC grew its position in shares of Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after acquiring an additional 239 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. TD Securities lowered shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Morgan Stanley restated an "overweight" rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Piper Sandler lowered their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Finally, Royal Bank of Canada lowered their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Price Performance

Shares of NYSE:HD traded down $7.56 during trading hours on Wednesday, hitting $360.35. 3,789,459 shares of the company's stock traded hands, compared to its average volume of 3,413,105. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company's fifty day simple moving average is $361.75 and its two-hundred day simple moving average is $383.94. The company has a market cap of $358.52 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results 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). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the business earned $3.63 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. This 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.

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.