Simplicity Wealth LLC Purchases 8,571 Shares of The Home Depot, Inc. (NYSE:HD)

Simplicity Wealth LLC boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 217.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,518 shares of the home improvement retailer's stock after buying an additional 8,571 shares during the quarter. Simplicity Wealth LLC's holdings in Home Depot were worth $4,588,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HD. Norges Bank acquired a new stake in Home Depot in the 4th quarter valued at $5,032,910,000. GAMMA Investing LLC grew its holdings in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HD shares. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and boosted their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group dropped their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Seven research 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 stock. Based on data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm'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 value of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents 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.

Home Depot Price Performance

Home Depot stock traded up $2.95 during mid-day trading on Tuesday, reaching $368.15. 3,014,068 shares of the company were exchanged, compared to its average volume of 3,408,063. The firm has a market cap of $366.28 billion, a PE ratio of 25.01, a PEG ratio of 4.03 and a beta of 1.02. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a fifty day simple moving average of $361.51 and a 200-day simple moving average of $384.05. 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 released its 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 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 business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $3.63 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot's payout ratio is 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.