Warburton Capital Management LLC Purchases Shares of 792 The Home Depot, Inc. (NYSE:HD)

Key Points

• Warburton Capital Management LLC has acquired a new stake in The Home Depot, purchasing 792 shares valued at approximately $290,000 during the first quarter of the year.
• Home Depot's stock has received positive attention from analysts, with target price upgrades from major firms including JPMorgan and Truist Financial, suggesting strong investor confidence.
• The company reported a quarterly earnings per share of $3.56, which fell short of the expected $3.59, despite a revenue increase of 9.4% compared to the previous year.

Warburton Capital Management LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 792 shares of the home improvement retailer's stock, valued at approximately $290,000.

A number of other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after acquiring an additional 7,203 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after acquiring an additional 565 shares during the period. Shelton Capital Management increased its stake in shares of Home Depot by 18.7% in the fourth quarter. Shelton Capital Management now owns 51,038 shares of the home improvement retailer's stock worth $19,853,000 after acquiring an additional 8,058 shares during the period. FIL Ltd increased its stake in shares of Home Depot by 14.3% in the fourth quarter. FIL Ltd now owns 120,618 shares of the home improvement retailer's stock worth $46,919,000 after acquiring an additional 15,075 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of Home Depot by 34.0% in the fourth quarter. Bank of Nova Scotia now owns 376,808 shares of the home improvement retailer's stock worth $146,616,000 after acquiring an additional 95,586 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated 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 of the company's stock, valued at approximately $6,413,285.76. This represents 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 currently owned by company insiders.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Robert W. Baird cut their price objective on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. DA Davidson cut their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the stock an "overweight" rating in a research note on Monday, June 30th. Guggenheim reissued a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Monday, June 30th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Price Performance

Shares of NYSE:HD traded up $1.60 during midday trading on Friday, hitting $387.77. The company's stock had a trading volume of 2,326,668 shares, compared to its average volume of 3,127,176. The business's 50 day simple moving average is $367.64 and its 200 day simple moving average is $372.52. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The company has a market cap of $385.80 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.67 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.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Home Depot 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.