Fiduciary Family Office LLC Makes New $1.96 Million Investment in The Home Depot, Inc. (NYSE:HD)

Key Points

• Fiduciary Family Office LLC has acquired a new stake in The Home Depot, purchasing 5,357 shares valued at approximately $1,963,000.
• Several other institutions have also adjusted their stakes in Home Depot, with large investors owning around 70.86% of the company's stock.
• Home Depot recently declared a quarterly dividend of $2.30 per share, representing an annualized dividend yield of 2.4%.

Fiduciary Family Office LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,357 shares of the home improvement retailer's stock, valued at approximately $1,963,000. Home Depot makes up approximately 0.7% of Fiduciary Family Office LLC's investment portfolio, making the stock its 27th largest position.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Taylor Financial Group Inc. increased its stake in shares of Home Depot by 3.9% during the first quarter. Taylor Financial Group Inc. now owns 8,993 shares of the home improvement retailer's stock worth $3,296,000 after purchasing an additional 340 shares in the last quarter. Johnson Financial Group LLC purchased a new stake in shares of Home Depot during the first quarter worth about $273,000. Manhattan West Asset Management LLC increased its stake in shares of Home Depot by 47.5% during the first quarter. Manhattan West Asset Management LLC now owns 1,218 shares of the home improvement retailer's stock worth $446,000 after purchasing an additional 392 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Home Depot by 9.5% during the first quarter. Benjamin Edwards Inc. now owns 232,969 shares of the home improvement retailer's stock worth $85,381,000 after purchasing an additional 20,166 shares in the last quarter. Finally, Koss Olinger Consulting LLC purchased a new stake in shares of Home Depot during the first quarter worth about $449,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Truist Financial boosted their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. DA Davidson dropped their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. TD Securities cut shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company'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 value of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Home Depot Trading Up 0.0%

Shares of HD stock traded up $0.07 during trading hours on Monday, hitting $387.92. The company had a trading volume of 2,605,021 shares, compared to its average volume of 3,090,072. The company's fifty day moving average is $368.04 and its 200 day moving average is $371.78. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market capitalization of $385.95 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 3.69 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. Research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. 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 is currently 62.42%.

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.