Vestmark Advisory Solutions Inc. Has $9.77 Million Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in The Home Depot, Inc. by 98.8%, acquiring an additional 13,240 shares to own a total of 26,647 shares valued at about $9.77 million.
• Home Depot reported a quarterly earnings per share of $3.56, which fell short of analyst expectations, despite a revenue boost of 9.4% year-over-year to $39.86 billion.
• The company recently declared a quarterly dividend of $2.30 per share, reflecting an annualized dividend of $9.20 and a dividend yield of 2.3%, with a payout ratio of 62.42%.

Vestmark Advisory Solutions Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 98.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,647 shares of the home improvement retailer's stock after purchasing an additional 13,240 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Home Depot were worth $9,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after acquiring an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its stake in Home Depot by 99,400.7% in the first 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after acquiring an additional 891,326 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after buying an additional 647,552 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of 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 buying an additional 1,424,857 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Performance

NYSE HD traded down $1.03 on Friday, hitting $399.29. The stock had a trading volume of 3,840,292 shares, compared to its average volume of 3,118,386. The Home Depot, Inc. has a one year low of $326.31 and a one year 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. The stock has a market cap of $397.27 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 3.80 and a beta of 1.00. The company's 50-day moving average is $370.47 and its two-hundred day moving average is $371.61.

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 for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.63 earnings per share. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.3%. Home Depot's dividend payout ratio is currently 62.42%.

Analysts Set New Price Targets

Several research analysts recently issued reports on HD shares. Truist Financial reissued a "buy" rating and set a $433.00 price target (up from $417.00) on shares of Home Depot in a report on Wednesday. Morgan Stanley reissued an "overweight" rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Robert W. Baird dropped their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Mizuho dropped their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Finally, Evercore ISI set a $400.00 target price on shares of Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating, nineteen 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 stock has an average rating of "Moderate Buy" and a consensus price target of $427.48.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business'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 in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

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.