Financial Gravity Asset Management Inc. Buys New Holdings in The Home Depot, Inc. (NYSE:HD)

Financial Gravity Asset Management Inc. bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,109 shares of the home improvement retailer's stock, valued at approximately $406,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hurlow Wealth Management Group Inc. grew its holdings in shares of Home Depot by 1.3% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer's stock worth $831,000 after buying an additional 27 shares in the last quarter. Invst LLC grew its holdings in shares of Home Depot by 0.4% during the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after buying an additional 28 shares in the last quarter. Financial Insights Inc. grew its holdings in shares of Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after buying an additional 28 shares in the last quarter. Wayfinding Financial LLC grew its holdings in shares of Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after buying an additional 28 shares in the last quarter. Finally, Pure Portfolios Holdings LLC grew its holdings in shares of Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Evercore ISI set a $400.00 price objective on Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Finally, Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. 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 data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value 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. 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 owned by company insiders.

Home Depot Stock Performance

NYSE:HD traded down $3.49 during mid-day trading on Friday, hitting $369.81. 1,617,428 shares of the stock were exchanged, compared to its average volume of 3,433,468. The stock has a market capitalization of $367.93 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. The firm's 50-day simple moving average is $366.03 and its 200 day simple moving average is $375.75. 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 fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the business earned $3.63 EPS. Home Depot's revenue was up 9.4% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.49%. Home Depot's dividend payout ratio (DPR) is presently 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.