Longfellow Investment Management Co. LLC Buys 1,096 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Longfellow Investment Management Co. LLC increased its stake in The Home Depot by 23.7%, owning 5,728 shares worth approximately $2.10 million at the end of the first quarter.
• Institutional investors and hedge funds own 70.86% of Home Depot's stock, indicating strong institutional support.
• Recent insider trades included Fahim Siddiqui selling 2,600 shares for $954,564, representing a significant 24.64% decrease in ownership.

Longfellow Investment Management Co. LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 23.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,728 shares of the home improvement retailer's stock after purchasing an additional 1,096 shares during the period. Home Depot makes up about 0.5% of Longfellow Investment Management Co. LLC's holdings, making the stock its 27th biggest position. Longfellow Investment Management Co. LLC's holdings in Home Depot were worth $2,099,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Invst LLC boosted its stake in Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after acquiring an additional 28 shares during the last quarter. Financial Insights Inc. boosted its stake in Home Depot by 3.3% in the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after acquiring an additional 28 shares during the last quarter. Wayfinding Financial LLC boosted its stake in Home Depot by 1.2% in the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after acquiring an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC boosted its stake in Home Depot by 4.7% in the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after acquiring an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its stake in Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HD shares. DA Davidson reduced their price target on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Truist Financial reissued a "buy" rating and set a $433.00 price target (up from $417.00) on shares of Home Depot in a research report on Wednesday. Stifel Nicolaus raised 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. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus price target of $427.38.

Home Depot Stock Down 1.6%

HD stock traded down $6.45 during midday trading on Thursday, hitting $400.73. The company's stock had a trading volume of 3,598,429 shares, compared to its average volume of 3,514,982. 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 twelve month low of $326.31 and a twelve month high of $439.37. The company's fifty day moving average price is $369.19 and its 200 day moving average price is $372.20. The stock has a market capitalization of $398.70 billion, a P/E ratio of 27.19, a PEG ratio of 3.76 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.63 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's payout ratio is currently 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated 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 directly owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was 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 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.