Vanguard Group Inc. Buys 720,447 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Vanguard Group Inc. increased its stake in Home Depot, acquiring an additional 720,447 shares, bringing its total holding to 96,484,199 shares, which is valued at approximately $35.36 billion.
• Home Depot recently reported quarterly earnings of $3.56 per share, missing estimates, while its revenue reached $39.86 billion, exceeding consensus expectations.
• The company declared a quarterly dividend of $2.30, which translates to an annualized dividend of $9.20 and a dividend yield of 2.4%.

Vanguard Group Inc. boosted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 0.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,484,199 shares of the home improvement retailer's stock after purchasing an additional 720,447 shares during the quarter. Home Depot comprises 0.6% of Vanguard Group Inc.'s portfolio, making the stock its 23rd largest holding. Vanguard Group Inc. owned approximately 9.71% of Home Depot worth $35,360,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in HD. Goldman Sachs Group Inc. boosted its position in shares of Home Depot by 13.6% in the first quarter. Goldman Sachs Group Inc. now owns 6,480,031 shares of the home improvement retailer's stock valued at $2,374,866,000 after acquiring an additional 778,012 shares during the period. Atlantic Private Wealth LLC raised its stake in shares of Home Depot by 215.0% in the first quarter. Atlantic Private Wealth LLC now owns 315 shares of the home improvement retailer's stock valued at $115,000 after purchasing an additional 215 shares in the last quarter. Planning Alternatives Ltd. ADV acquired a new position in shares of Home Depot in the first quarter valued at $391,000. PrairieView Partners LLC raised its stake in shares of Home Depot by 3.6% in the first quarter. PrairieView Partners LLC now owns 1,453 shares of the home improvement retailer's stock valued at $532,000 after purchasing an additional 51 shares in the last quarter. Finally, Legacy Capital Group California Inc. raised its stake in Home Depot by 7.2% during the first quarter. Legacy Capital Group California Inc. now owns 924 shares of the home improvement retailer's stock worth $339,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 transaction, the executive vice president owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 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 position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price objective (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Truist Financial increased their price objective on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Jefferies Financial Group dropped their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. TD Securities lowered Home Depot to a "buy" rating in a research note on Monday, June 2nd. Finally, DA Davidson dropped their price objective on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Seven investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Price Performance

Home Depot stock opened at $385.23 on Wednesday. The business's 50-day simple moving average is $366.50 and its 200 day simple moving average is $372.80. The stock has a market cap of $383.28 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 3.62 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. 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 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 firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.63 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share 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 given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.