Cary Street Partners Financial LLC Grows Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Cary Street Partners Financial LLC increased its holdings in The Home Depot by 3.0%, owning over 55,500 shares worth approximately $20.36 million as of the end of the first quarter.
• Several institutional investors added to their Home Depot stakes, with hedge funds now owning 70.86% of the company's stock.
• Home Depot recently announced a quarterly dividend of $2.30 per share, representing an annual yield of 2.4%, with a payout ratio of 62.42%.

Cary Street Partners Financial LLC raised its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,547 shares of the home improvement retailer's stock after buying an additional 1,639 shares during the period. Cary Street Partners Financial LLC's holdings in Home Depot were worth $20,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Navigoe LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Abound Financial LLC purchased a new stake in Home Depot during the 1st quarter valued at about $31,000. Quarry LP grew its stake in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC grew its stake in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its stake in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's 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 sale, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 7,951 shares in the company, valued at approximately $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 corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HD. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Monday, June 30th. Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Royal Bank Of Canada dropped their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Finally, Truist Financial upped their price objective on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating 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 given a strong buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Performance

Shares of HD stock opened at $380.98 on Tuesday. The firm's 50 day moving average price is $366.19 and its 200-day moving average price is $372.71. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a market cap of $379.05 billion, a P/E ratio of 25.85, a P/E/G ratio of 3.55 and a beta of 1.00.

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

Home Depot Dividend Announcement

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

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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