S Bank Fund Management Ltd Buys Shares of 8,986 The Home Depot, Inc. (NYSE:HD)

Key Points

• S Bank Fund Management Ltd acquired nearly 9,000 shares of The Home Depot, valued at approximately $3.3 million, in its latest 13F filing.
• The Home Depot reported quarterly earnings per share of $3.56, which was slightly below analysts' estimates, despite revenue exceeding expectations at $39.86 billion.
• Home Depot recently announced a quarterly dividend of $2.30 per share, resulting in an annualized yield of 2.3% with a payout ratio of 62.42%.

S Bank Fund Management Ltd acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,986 shares of the home improvement retailer's stock, valued at approximately $3,293,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. purchased a new position in Home Depot in the 1st quarter worth $406,000. Wealth Management Partners LLC raised its position in Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after purchasing an additional 36 shares during the period. Arbor Capital Management Inc. ADV raised its position in Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after purchasing an additional 221 shares during the period. ARS Wealth Advisors Group LLC raised its position in Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after purchasing an additional 239 shares during the period. Finally, Tabor Asset Management LP purchased a new position in Home Depot in the 1st quarter worth $5,886,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction that occurred on 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 directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HD shares. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Mizuho decreased their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and issued a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Truist Financial restated a "buy" rating and issued a $433.00 price objective (up previously from $417.00) on shares of Home Depot in a research report on Wednesday. Finally, Royal Bank Of Canada decreased their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and an average target price of $427.38.

Home Depot Stock Performance

Shares of HD traded down $6.45 during mid-day trading on Thursday, hitting $400.73. 3,599,312 shares of the company traded hands, compared to its average volume of 3,094,821. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock has a 50-day moving average price of $369.83 and a two-hundred day moving average price of $372.03. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The stock has a market cap of $398.70 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 3.87 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the previous year, the firm earned $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is presently 62.42%.

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.