WealthShield Partners LLC Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• WealthShield Partners LLC increased its holdings in The Home Depot by 7.0%, acquiring 908 additional shares during the 1st quarter, bringing its total ownership to 13,891 shares worth approximately $5.09 million.
• Several institutional investors significantly raised their stakes in Home Depot, with Brighton Jones LLC increasing holdings by 36.5% and Bank of Nova Scotia by 34.0% in the fourth quarter.
• Analysts have revised their price targets for Home Depot, with Jefferies Financial Group lowering it to $456.00 while others maintain a "buy" rating with targets around $400.00 to $450.00, resulting in a consensus rating of "Moderate Buy."

WealthShield Partners LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,891 shares of the home improvement retailer's stock after purchasing an additional 908 shares during the quarter. WealthShield Partners LLC's holdings in Home Depot were worth $5,091,000 at the end of the most recent quarter.

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

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of 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 disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Truist Financial upped their target price on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. 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's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Performance

Shares of NYSE HD opened at $385.23 on Wednesday. The stock has a fifty day moving average price of $366.50 and a two-hundred day moving average price of $372.80. 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 firm has a market cap of $383.28 billion, a P/E ratio of 26.14, a PEG ratio of 3.62 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its 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). The firm had revenue of $39.86 billion for 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%. Home Depot's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.63 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

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

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