Parr Mcknight Wealth Management Group LLC Invests $392,000 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 fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,008 shares of the home improvement retailer's stock, valued at approximately $392,000.

Other hedge funds have also recently modified their holdings of the company. WCG Wealth Advisors LLC lifted its holdings in Home Depot by 2.3% in the fourth quarter. WCG Wealth Advisors LLC now owns 11,800 shares of the home improvement retailer's stock valued at $4,590,000 after acquiring an additional 262 shares during the period. Pacific Point Advisors LLC purchased a new stake in Home Depot during the 4th quarter worth about $407,000. Neo Ivy Capital Management purchased a new stake in Home Depot during the 4th quarter worth about $4,135,000. Vega Investment Solutions purchased a new stake in Home Depot during the 4th quarter worth about $46,000. Finally, Strait & Sound Wealth Management LLC increased its position in Home Depot by 4.6% during the 4th quarter. Strait & Sound Wealth Management LLC now owns 7,794 shares of the home improvement retailer's stock worth $3,032,000 after purchasing an additional 345 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on HD shares. Wells Fargo & Company lowered their price target on Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday, May 20th. Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Finally, Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Trading Down 0.4%

Shares of NYSE:HD traded down $1.47 during midday trading on Thursday, reaching $366.59. The company had a trading volume of 1,036,493 shares, compared to its average volume of 3,421,288. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market cap of $364.40 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a fifty day simple moving average of $360.70 and a two-hundred day simple moving average of $386.56.

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 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 company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the business earned $3.63 EPS. The company'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 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.51%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insider Activity at Home Depot

In related news, 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 completion of the sale, the executive vice president now directly owns 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Company 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.