Momentous Wealth Management Inc. Purchases Shares of 961 The Home Depot, Inc. (NYSE:HD)

Key Points

• Momentous Wealth Management Inc. acquired a stake of 961 shares in The Home Depot, valued at approximately $352,000, making it the firm's 26th largest holding.
• Home Depot's recent quarterly earnings report showed $3.56 earnings per share, slightly missing analysts' estimates, despite demonstrating a 9.4% year-over-year revenue increase.
• Analysts have a consensus price target of $426.77 for Home Depot, with a majority rating it as a "Moderate Buy" based on recent updates in target prices and ratings.

Momentous Wealth Management Inc. purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 961 shares of the home improvement retailer's stock, valued at approximately $352,000. Home Depot makes up about 0.2% of Momentous Wealth Management Inc.'s investment portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hurlow Wealth Management Group Inc. grew its position in Home Depot by 1.3% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer's stock worth $831,000 after purchasing an additional 27 shares in the last quarter. Invst LLC lifted its position in shares of Home Depot by 0.4% during the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after buying an additional 28 shares in the last quarter. Financial Insights Inc. lifted its position in shares of Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after buying an additional 28 shares in the last quarter. Wayfinding Financial LLC lifted its position in shares of Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after buying an additional 28 shares in the last quarter. Finally, Pure Portfolios Holdings LLC lifted its position in shares of Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after buying an additional 28 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Gordon Haskett boosted their target price on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Guggenheim reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Robert W. Baird dropped their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Finally, Truist Financial boosted their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Seven research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Performance

HD opened at $367.62 on Friday. The firm has a market cap of $365.76 billion, a P/E ratio of 24.94, a PEG ratio of 3.54 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a 50 day simple moving average of $365.63 and a two-hundred day simple moving average of $373.53. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates 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 previous 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. 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Insider Buying and Selling at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's 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 sale, the executive vice president directly 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 disclosure for this sale can be found here. 0.10% of the stock is currently 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.

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