Cornerstone Wealth Group LLC Acquires 2,726 Shares of The Home Depot, Inc. (NYSE:HD)

Cornerstone Wealth Group LLC lifted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,071 shares of the home improvement retailer's stock after purchasing an additional 2,726 shares during the quarter. Home Depot accounts for approximately 1.0% of Cornerstone Wealth Group LLC's holdings, making the stock its 23rd biggest position. Cornerstone Wealth Group LLC's holdings in Home Depot were worth $11,754,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Navigoe LLC bought a new stake in Home Depot in the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $32,000. Quarry LP grew its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares during the period. Sellwood Investment Partners LLC bought a new stake in shares of Home Depot in the fourth quarter worth approximately $39,000. Finally, NewSquare Capital LLC raised its holdings in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm'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 completion of the transaction, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $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 currently owned by insiders.

Home Depot Price Performance

Shares of NYSE:HD traded up $4.86 during trading on Friday, hitting $368.36. 5,502,278 shares of the company's stock were exchanged, compared to its average volume of 3,431,611. The business's 50-day simple moving average is $363.55 and its 200 day simple moving average is $377.83. The company has a market cap of $366.49 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 3.46 and a beta of 1.02. 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 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $3.63 earnings per share. As a group, equities analysts predict 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 was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.50%. Home Depot's payout ratio is 62.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Guggenheim restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Wells Fargo & Company lowered their price objective on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Friday, June 20th. Finally, Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $426.77.

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.