The Home Depot, Inc. (NYSE:HD) Shares Bought by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has increased its holdings in The Home Depot by 13.6%, owning over 6.48 million shares valued at approximately $2.37 billion as of its latest SEC filing.
• Home Depot's quarterly earnings report revealed an earnings per share of $3.56, just below expectations, but the company's revenue increased by 9.4% from the same quarter last year.
• The company recently declared a quarterly dividend of $2.30 per share, resulting in an annualized yield of 2.4% and a payout ratio of 62.42%.

Goldman Sachs Group Inc. lifted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 13.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,480,031 shares of the home improvement retailer's stock after buying an additional 778,012 shares during the period. Goldman Sachs Group Inc. owned about 0.65% of Home Depot worth $2,374,866,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Invst LLC increased its position in Home Depot by 0.4% during the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock worth $2,621,000 after purchasing an additional 28 shares during the last quarter. Financial Insights Inc. increased its position in shares of Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after acquiring an additional 28 shares during the last quarter. Wayfinding Financial LLC increased its position in shares of Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after acquiring an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC increased its position in shares of Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after acquiring an additional 28 shares during the last quarter. Finally, First Interstate Bank increased its position in shares of Home Depot by 0.3% during the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after acquiring an additional 28 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.4%

Home Depot stock traded up $1.60 during trading on Friday, reaching $387.77. The stock had a trading volume of 2,326,668 shares, compared to its average volume of 3,127,176. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The business has a 50 day moving average price of $367.64 and a 200 day moving average price of $372.52. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The stock has a market cap of $385.80 billion, a PE ratio of 26.31, a P/E/G ratio of 3.67 and a beta of 1.00.

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 analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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

Insider Buying and Selling

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 transaction of $954,564.00. Following the sale, the executive vice president owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm'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 transaction of $1,996,327.68. Following the sale, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on HD. Truist Financial lifted their price target on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research note on Monday, June 30th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

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.