Pinnacle Associates Ltd. Buys 6,203 Shares of The Home Depot, Inc. (NYSE:HD)

Pinnacle Associates Ltd. raised its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,536 shares of the home improvement retailer's stock after buying an additional 6,203 shares during the period. Home Depot comprises approximately 0.8% of Pinnacle Associates Ltd.'s portfolio, making the stock its 20th largest position. Pinnacle Associates Ltd.'s holdings in Home Depot were worth $57,002,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Dempze Nancy E increased its position in shares of Home Depot by 6.3% in the first quarter. Dempze Nancy E now owns 12,641 shares of the home improvement retailer's stock valued at $4,633,000 after acquiring an additional 746 shares during the period. Elm3 Financial Group LLC boosted its holdings in shares of Home Depot by 118.2% during the first quarter. Elm3 Financial Group LLC now owns 4,259 shares of the home improvement retailer's stock worth $1,561,000 after purchasing an additional 2,307 shares during the period. AE Wealth Management LLC grew its stake in shares of Home Depot by 5.5% in the first quarter. AE Wealth Management LLC now owns 184,792 shares of the home improvement retailer's stock worth $67,725,000 after purchasing an additional 9,689 shares during the last quarter. Burney Co. increased its holdings in Home Depot by 4.3% during the 1st quarter. Burney Co. now owns 31,867 shares of the home improvement retailer's stock valued at $11,679,000 after purchasing an additional 1,306 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in Home Depot by 0.4% during the 1st quarter. Wedbush Securities Inc. now owns 51,589 shares of the home improvement retailer's stock valued at $18,907,000 after purchasing an additional 189 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD traded up $2.08 on Friday, reaching $375.17. The company's stock had a trading volume of 2,220,183 shares, compared to its average volume of 3,349,543. The stock's 50 day simple moving average is $365.70 and its two-hundred day simple moving average is $373.99. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The stock has a market capitalization of $373.27 billion, a P/E ratio of 25.45, a PEG ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data 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 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the previous year, the firm earned $3.63 EPS. The company's revenue was up 9.4% on a year-over-year basis. Research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. Home Depot's payout ratio is currently 62.42%.

Insider Buying and Selling

In related news, 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 value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on HD. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Guggenheim reissued a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Finally, TD Securities lowered shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $426.77.

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.