Successful Portfolios LLC Acquires 146 Shares of The Home Depot, Inc. (NYSE:HD)

Successful Portfolios LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 2.0% during the 4th quarter, HoldingsChannel reports. The firm owned 7,337 shares of the home improvement retailer’s stock after acquiring an additional 146 shares during the quarter. Home Depot makes up approximately 1.9% of Successful Portfolios LLC’s holdings, making the stock its 11th biggest holding. Successful Portfolios LLC’s holdings in Home Depot were worth $2,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HD. Morgan Stanley grew its stake in Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after buying an additional 1,698,402 shares during the last quarter. Northern Trust Corp increased its position in Home Depot by 1.3% in the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after acquiring an additional 153,141 shares in the last quarter. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth about $3,740,875,000. Moneta Group Investment Advisors LLC lifted its position in shares of Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after purchasing an additional 10,984,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Home Depot by 14.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after purchasing an additional 1,361,660 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Home Depot Stock Performance

Shares of HD traded down $2.29 during trading hours on Thursday, hitting $383.60. The company had a trading volume of 4,046,674 shares, compared to its average volume of 3,149,935. The business has a fifty day moving average of $368.47 and a 200-day moving average of $334.54. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The firm has a market cap of $380.16 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.51 and a beta of 0.99. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.30 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.39 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a dividend yield of 2.35%. Home Depot’s dividend payout ratio is 59.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HD shares. Guggenheim increased their price objective on Home Depot from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. HSBC downgraded shares of Home Depot from a “hold” rating to a “reduce” rating and set a $323.00 target price on the stock. in a research report on Wednesday, February 21st. StockNews.com upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Evercore ISI increased their price objective on shares of Home Depot from $410.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.76.

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.