Sweeney & Michel LLC Purchases New Shares in The Home Depot, Inc. (NYSE:HD)

Sweeney & Michel LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,364 shares of the home improvement retailer's stock, valued at approximately $457,000.

A number of other hedge funds have also made changes to their positions in the company. POM Investment Strategies LLC increased its position in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock worth $824,000 after purchasing an additional 24 shares during the period. Center for Financial Planning Inc. grew its stake in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after buying an additional 24 shares in the last quarter. Live Oak Private Wealth LLC increased its holdings in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock valued at $1,912,000 after buying an additional 25 shares during the period. Mezzasalma Advisors LLC raised its position in shares of Home Depot by 4.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer's stock valued at $255,000 after buying an additional 25 shares in the last quarter. Finally, Focused Wealth Management Inc raised its position in shares of Home Depot by 2.4% in the 4th quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer's stock valued at $421,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 sale, the executive vice president now owns 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 7,951 shares of the company's stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. 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 note on Wednesday, May 21st. Guggenheim reissued a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. DA Davidson decreased their target price on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Telsey Advisory Group reiterated an "outperform" rating on shares of Home Depot in a research note on Monday. Finally, Truist Financial boosted their price objective on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Trading Up 1.5%

Shares of NYSE:HD traded up $5.41 during midday trading on Tuesday, reaching $373.37. The company's stock had a trading volume of 3,355,699 shares, compared to its average volume of 3,421,042. The firm has a 50 day moving average price of $361.04 and a two-hundred day moving average price of $385.45. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The firm has a market capitalization of $371.48 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the business earned $3.63 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.46%. The ex-dividend date is Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

About Home Depot

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.