Sit Investment Associates Inc. Buys 5,647 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Sit Investment Associates Inc. increased its stake in The Home Depot by 9.8%, owning 63,148 shares valued at approximately $23.1 million after purchasing an additional 5,647 shares in the first quarter.
• Institutional investors currently hold 70.86% of Home Depot's stock, with significant stakes raised by various firms, including an astounding 99,400.7%% increase by Asset Planning Services Inc.
• Home Depot's recent quarterly earnings report indicated earnings per share of $3.56, missing the estimate by $0.03, but revenue grew by 9.4%% year-over-year, totaling nearly $39.86 billion.

Sit Investment Associates Inc. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,148 shares of the home improvement retailer's stock after purchasing an additional 5,647 shares during the period. Sit Investment Associates Inc.'s holdings in Home Depot were worth $23,143,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HD. Asset Planning Services Inc. LA ADV raised its stake in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. GAMMA Investing LLC raised its stake in 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 during the period. Nuveen LLC bought a new stake in Home Depot in the 1st quarter valued at $2,076,592,000. Northern Trust Corp raised its stake in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC bought a new stake in Home Depot in the 4th quarter valued at $471,189,000. Institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial restated a "buy" rating and issued a $433.00 price target (up previously from $417.00) on shares of Home Depot in a research note on Wednesday. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Royal Bank Of Canada dropped their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Finally, Gordon Haskett lifted their target price on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and an average target price of $427.38.

Insider Buying and Selling

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, 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 corporate insiders.

Home Depot Price Performance

Home Depot stock opened at $407.46 on Thursday. The stock's 50 day moving average is $369.19 and its 200 day moving average is $372.20. 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 firm has a market cap of $405.39 billion, a P/E ratio of 27.64, a P/E/G ratio of 3.76 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly 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). 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 during the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the firm posted $3.63 earnings per share. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced 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. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend 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.

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