Parr Mcknight Wealth Management Group LLC Invests $392,000 in The Home Depot, Inc. (NYSE:HD)

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

Other hedge funds have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc boosted its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock valued at $9,242,000 after buying an additional 3,873 shares during the period. Disciplined Investors L.L.C. acquired a new position in Home Depot in the fourth quarter valued at about $409,000. JPL Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at about $3,193,000. Finally, Umpqua Bank lifted its stake in Home Depot by 26.5% in the fourth quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer's stock valued at $2,425,000 after buying an additional 1,294 shares during the period. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the company's 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 now owns 7,951 shares of the company's stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group cut their target price on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Piper Sandler dropped their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research report on Tuesday, May 20th. Wells Fargo & Company dropped their price target on Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Guggenheim reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Seven equities 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Performance

HD traded up $7.25 during trading on Tuesday, hitting $369.96. The stock had a trading volume of 3,992,800 shares, compared to its average volume of 3,433,908. The company has a 50 day moving average price of $360.09 and a 200-day moving average price of $386.81. The firm has a market cap of $367.75 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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 the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.63 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.49%. Home Depot's dividend payout ratio is presently 62.42%.

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.