The Home Depot, Inc. (NYSE:HD) Position Lifted by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in The Home Depot by 2.2%, owning a total of 685,240 shares valued at approximately $251 million as of the recent SEC filing.
• Several other institutional investors also boosted their holdings, with Stevens Capital Management LP significantly increasing its stake by 1,706.2%, now owning 18,008 shares worth $6.6 million.
• Home Depot declared a quarterly dividend of $2.30 per share, resulting in an annualized yield of 2.45%, with a payout ratio of 62.42%.

HB Wealth Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 685,240 shares of the home improvement retailer's stock after buying an additional 14,831 shares during the quarter. Home Depot accounts for about 2.1% of HB Wealth Management LLC's portfolio, making the stock its 8th biggest holding. HB Wealth Management LLC owned about 0.07% of Home Depot worth $251,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after buying an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HD shares. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and boosted their target price for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. DA Davidson dropped their price target on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Guggenheim restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the stock an "overweight" rating in a research note on Monday, June 30th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the 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 owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm'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 sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Stock Down 0.2%

Shares of NYSE HD traded down $0.70 during trading on Wednesday, reaching $376.64. The company had a trading volume of 676,215 shares, compared to its average volume of 3,532,125. The business's 50-day moving average is $365.56 and its 200 day moving average is $373.69. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The stock has a market cap of $374.73 billion, a PE ratio of 25.56, a P/E/G ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.63 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's 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.