W.H. Cornerstone Investments Inc. Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• W.H. Cornerstone Investments Inc. increased its stake in The Home Depot by 52.8% during the first quarter, bringing its total holdings to 2,139 shares, valued at approximately $784,000.
• Several other institutional investors, including Asset Planning Services Inc., made significant increases in their positions, with some reporting gains exceeding 99,400% in the same timeframe.
• Home Depot declared a quarterly dividend of $2.30 per share, representing a 2.5% dividend yield, with a payout ratio of 62.42%.

W.H. Cornerstone Investments Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 52.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,139 shares of the home improvement retailer's stock after purchasing an additional 739 shares during the quarter. W.H. Cornerstone Investments Inc.'s holdings in Home Depot were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Asset Planning Services Inc. LA ADV increased its position in shares of Home Depot by 99,400.7% during the 1st 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 purchasing an additional 18,956,701 shares during the last quarter. Capital Research Global Investors increased its position in shares of Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Northern Trust Corp increased its position in shares of Home Depot by 13.3% during 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 purchasing an additional 1,424,857 shares during the last quarter. GAMMA Investing LLC increased its holdings in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Home Depot by 5.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,472,212 shares of the home improvement retailer's stock worth $3,295,606,000 after acquiring an additional 441,729 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HD shares. Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Truist Financial increased their target price 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. Guggenheim reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada reduced their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Stock Performance

HD stock opened at $373.55 on Monday. 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 business's fifty day simple moving average is $365.84 and its two-hundred day simple moving average is $372.91. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The firm has a market cap of $371.66 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 3.55 and a beta of 1.00.

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 for the quarter, missing analysts' consensus estimates 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 revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 EPS. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction 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 owned 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's 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 transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

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.

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