Meadow Creek Wealth Advisors LLC Takes $3.39 Million Position in The Home Depot, Inc. (NYSE:HD)

Meadow Creek Wealth Advisors LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,768 shares of the home improvement retailer’s stock, valued at approximately $3,385,000. Home Depot accounts for 3.3% of Meadow Creek Wealth Advisors LLC’s holdings, making the stock its 5th biggest position.

Several other institutional investors also recently bought and sold shares of HD. Congress Wealth Management LLC DE increased its holdings in shares of Home Depot by 3.7% in the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after acquiring an additional 3,162 shares during the period. Psagot Value Holdings Ltd. Israel increased its holdings in shares of Home Depot by 8.0% in the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after acquiring an additional 200 shares during the period. Industrial Alliance Investment Management Inc. increased its holdings in shares of Home Depot by 119.8% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 2,945 shares of the home improvement retailer’s stock valued at $890,000 after acquiring an additional 1,605 shares during the period. Cape Cod Five Cents Savings Bank increased its holdings in shares of Home Depot by 96.3% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 72,994 shares of the home improvement retailer’s stock valued at $22,056,000 after acquiring an additional 35,805 shares during the period. Finally, National Pension Service increased its holdings in shares of Home Depot by 6.4% in the 2nd quarter. National Pension Service now owns 1,543,616 shares of the home improvement retailer’s stock valued at $475,156,000 after acquiring an additional 92,354 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of Home Depot stock traded down $2.29 on Friday, hitting $383.60. 4,108,328 shares of the company were exchanged, compared to its average volume of 3,355,391. The stock has a market capitalization of $380.16 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 2.55 and a beta of 0.99. The company has a 50-day moving average price of $368.47 and a 200 day moving average price of $334.54. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.35%. Home Depot’s dividend payout ratio is currently 59.60%.

Insider Activity at Home Depot

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HD shares. Telsey Advisory Group raised their price objective on Home Depot from $325.00 to $335.00 and gave the stock a “market perform” rating in a research report on Thursday, February 15th. Citigroup raised their price objective on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada raised their price objective on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. Oppenheimer cut Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $368.76.

About Home Depot

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.