Perennial Advisors LLC Takes $5.61 Million Position in The Home Depot, Inc. (NYSE:HD)

Perennial Advisors LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 14,420 shares of the home improvement retailer's stock, valued at approximately $5,609,000. Home Depot accounts for approximately 1.2% of Perennial Advisors LLC's portfolio, making the stock its 29th biggest position.

Other hedge funds also recently made changes to their positions in the company. K.J. Harrison & Partners Inc lifted its holdings in Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock worth $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Home Depot by 19.5% during the 4th 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. purchased a new stake in Home Depot during the 4th quarter valued at $409,000. JPL Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter valued at $3,193,000. Finally, Umpqua Bank increased 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 worth $2,425,000 after purchasing an additional 1,294 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Home Depot stock traded down $2.59 during mid-day trading on Wednesday, reaching $367.81. 2,977,986 shares of the company were exchanged, compared to its average volume of 3,430,623. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm's 50-day simple moving average is $360.38 and its two-hundred day simple moving average is $386.69. 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 firm has a market cap of $365.61 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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). The company 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 452.60% and a net margin of 9.45%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.63 earnings per share. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HD. Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. DA Davidson dropped their price objective on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Wells Fargo & Company decreased their price target on Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group reduced their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was 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 trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.10% of the stock is currently owned by company insiders.

About Home Depot

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.