Warm Springs Advisors Inc. Invests $1.59 Million in The Home Depot, Inc. (NYSE:HD)

Warm Springs Advisors Inc. bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,088 shares of the home improvement retailer's stock, valued at approximately $1,590,000. Home Depot makes up approximately 1.5% of Warm Springs Advisors Inc.'s holdings, making the stock its 23rd biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth about $5,032,910,000. Raymond James Financial Inc. acquired a new position in shares of Home Depot during the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC raised its position in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Northern Trust Corp raised its holdings in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $471,189,000. Institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Truist Financial lifted their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Wedbush reissued an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Morgan Stanley restated an "overweight" rating and set a $415.00 price objective (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, Piper Sandler reduced their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Seven investment 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Down 0.4%

Home Depot stock traded down $1.64 during mid-day trading on Thursday, reaching $366.42. The stock had a trading volume of 1,106,755 shares, compared to its average volume of 3,421,515. The firm has a market capitalization of $364.24 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock's 50-day simple moving average is $360.70 and its 200-day simple moving average is $386.56. 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 results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the firm posted $3.63 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.51%. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company's stock.

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.