Savvy Advisors Inc. Has $3 Million Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Savvy Advisors Inc. increased its stake in The Home Depot, Inc. by 14%, owning 8,190 shares valued at approximately $3 million as of the latest SEC filing.
• During the same quarter, other institutional investors also adjusted their positions, with 70.86% of the stock now held by hedge funds and institutional investors.
• Home Depot reported quarterly earnings of $3.56 per share, slightly missing analysts' expectations, but revenue grew by 9.4% year-over-year, totaling $39.86 billion.

Savvy Advisors Inc. boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 14.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,190 shares of the home improvement retailer's stock after purchasing an additional 1,003 shares during the period. Savvy Advisors Inc.'s holdings in Home Depot were worth $3,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Financial Gravity Asset Management Inc. bought a new position in shares of Home Depot in the 1st quarter worth $406,000. Wealth Management Partners LLC boosted its position in shares of 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 last quarter. Arbor Capital Management Inc. ADV boosted its position in shares of 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 last quarter. ARS Wealth Advisors Group LLC boosted its position in shares of 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 last quarter. Finally, Tabor Asset Management LP bought a new position in shares of Home Depot in the 1st quarter worth $5,886,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

NYSE HD opened at $385.79 on Friday. The company has a market capitalization of $383.83 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The stock has a fifty day simple moving average of $367.24 and a 200 day simple moving average of $372.74. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

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 during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.63 earnings per share. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a report on Monday, June 30th. DA Davidson reduced their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Mizuho cut their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Seven research 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 company. According to MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus price target of $426.77.

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.

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