Parr Mcknight Wealth Management Group LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Parr Mcknight Wealth Management Group LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,008 shares of the home improvement retailer's stock, valued at approximately $392,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after buying an additional 875,836 shares in the last quarter. Geode Capital Management LLC grew its position in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank purchased a new position in Home Depot during the 4th quarter worth approximately $5,032,910,000. Capital Research Global Investors grew its position in Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after purchasing an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp grew its position in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Truist Financial lifted their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. TD Securities reiterated a "buy" rating and set a $470.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. DA Davidson lowered their price objective on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Finally, HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and boosted their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Down 0.7%

Shares of HD stock traded down $2.59 on Wednesday, hitting $367.81. The company's stock had a trading volume of 2,977,701 shares, compared to its average volume of 3,432,091. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm's fifty day moving average price is $360.38 and its 200-day moving average price is $386.69. The stock has a market capitalization of $365.61 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results 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 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the company earned $3.63 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company's stock.

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.