Liberty Wealth Management LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Liberty Wealth Management LLC significantly increased its stake in Home Depot by 2,809.5%, owning 68,927 shares valued at approximately $25.26 million as of the latest quarter.
• Home Depot reported $3.56 EPS, slightly missing analysts' expectations, while its revenue surged to $39.86 billion, reflecting a 9.4% increase from the previous year.
• The company's quarterly dividend of $2.30 per share represents an annualized dividend yield of 2.5% and a payout ratio of 62.42%.

Liberty Wealth Management LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2,809.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,927 shares of the home improvement retailer's stock after buying an additional 66,558 shares during the period. Liberty Wealth Management LLC's holdings in Home Depot were worth $25,261,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Abound Financial LLC acquired a new position in Home Depot in the 1st quarter worth $31,000. Iron Horse Wealth Management LLC lifted its stake in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares during the last quarter. Quarry LP lifted its position in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its stake in shares of Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after buying an additional 30 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD stock traded up $2.92 during midday trading on Tuesday, reaching $383.74. The company had a trading volume of 529,731 shares, compared to its average volume of 3,516,329. The company has a market capitalization of $381.80 billion, a P/E ratio of 26.06, a P/E/G ratio of 3.55 and a beta of 1.00. 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 1 year low of $326.31 and a 1 year high of $439.37. The firm has a 50-day moving average price of $366.19 and a 200-day moving average price of $372.71.

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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the business posted $3.63 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 completion of the sale, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HD shares. Mizuho lowered their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Truist Financial increased their target price on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and lifted their price target for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

About Home Depot

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.