Heritage Wealth Advisors Acquires 2,937 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Heritage Wealth Advisors increased its stake in The Home Depot by 3.3%, purchasing an additional 2,937 shares, bringing its total holdings to 92,855 shares valued at approximately $34 million.
• Various institutional investors significantly boosted their positions in Home Depot, with Asset Planning Services increasing their stake by 99,400.7% during the same period.
• Despite a recent quarterly earnings report showing a slight miss on EPS estimates, Home Depot's revenue rose by 9.4% year-over-year, reflecting strong business performance amidst market dynamics.

Heritage Wealth Advisors grew its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 92,855 shares of the home improvement retailer's stock after buying an additional 2,937 shares during the period. Home Depot makes up 1.7% of Heritage Wealth Advisors' investment portfolio, making the stock its 24th biggest holding. Heritage Wealth Advisors' holdings in Home Depot were worth $34,030,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC acquired a new stake in shares of Home Depot during the 1st quarter worth about $507,000. Commerce Bank increased its holdings in Home Depot by 0.4% during the 1st quarter. Commerce Bank now owns 228,053 shares of the home improvement retailer's stock valued at $83,579,000 after purchasing an additional 974 shares in the last quarter. Hopwood Financial Services Inc. raised its position in Home Depot by 8.2% in the 1st quarter. Hopwood Financial Services Inc. now owns 796 shares of the home improvement retailer's stock valued at $292,000 after purchasing an additional 60 shares during the last quarter. EagleClaw Capital Managment LLC boosted its stake in Home Depot by 6.7% in the first quarter. EagleClaw Capital Managment LLC now owns 42,040 shares of the home improvement retailer's stock worth $15,407,000 after purchasing an additional 2,654 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Home Depot by 44.3% during the first quarter. Jefferies Financial Group Inc. now owns 105,320 shares of the home improvement retailer's stock worth $38,599,000 after purchasing an additional 32,312 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on HD. Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research report on Monday, June 30th. Morgan Stanley reissued an "overweight" rating and set a $415.00 price objective (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Finally, Mizuho lowered their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares of the company's stock, valued at $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 currently owned by insiders.

Home Depot Trading Up 1.2%

HD stock traded up $4.71 during mid-day trading on Tuesday, reaching $385.53. The company's stock had a trading volume of 1,735,779 shares, compared to its average volume of 3,525,215. The business's 50 day moving average price is $366.19 and its 200 day moving average price is $372.71. The company has a market cap of $383.58 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. 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 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 analysts' expectations of $39.24 billion. During the same period last year, the company earned $3.63 earnings per share. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued 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 2.4%. Home Depot's payout ratio is 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.