Joseph Group Capital Management Increases Stake in The Home Depot, Inc. (NYSE:HD)

Joseph Group Capital Management raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,281 shares of the home improvement retailer's stock after purchasing an additional 1,255 shares during the period. Home Depot makes up approximately 1.9% of Joseph Group Capital Management's investment portfolio, making the stock its 16th biggest position. Joseph Group Capital Management's holdings in Home Depot were worth $4,867,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HD. Bosman Wealth Management LLC acquired a new position in shares of Home Depot in the first quarter valued at approximately $207,000. Bernardo Wealth Planning LLC increased its stake in shares of Home Depot by 7.7% in the first quarter. Bernardo Wealth Planning LLC now owns 770 shares of the home improvement retailer's stock valued at $282,000 after buying an additional 55 shares during the period. Cerity Partners LLC lifted its holdings in shares of Home Depot by 15.6% during the first quarter. Cerity Partners LLC now owns 726,317 shares of the home improvement retailer's stock worth $266,188,000 after purchasing an additional 97,966 shares during the period. Phillips Financial Management LLC lifted its holdings in shares of Home Depot by 4.1% during the first quarter. Phillips Financial Management LLC now owns 1,266 shares of the home improvement retailer's stock worth $464,000 after purchasing an additional 50 shares during the period. Finally, Alan B Lancz & Associates Inc. lifted its holdings in shares of Home Depot by 3.4% during the first quarter. Alan B Lancz & Associates Inc. now owns 1,500 shares of the home improvement retailer's stock worth $550,000 after purchasing an additional 50 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.8%

NYSE HD traded down $3.15 on Friday, hitting $370.15. The company's stock had a trading volume of 3,068,031 shares, compared to its average volume of 3,436,129. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. 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 company's 50-day simple moving average is $366.03 and its 200 day simple moving average is $375.75. The firm has a market cap of $368.27 billion, a P/E ratio of 25.11, a PEG ratio of 3.55 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the previous year, the firm posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Robert W. Baird decreased their price target on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Finally, Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Activity

In related news, 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 transaction of $1,996,327.68. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president owned 7,951 shares of the company's stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.