Market Street Wealth Management Advisors LLC Invests $219,000 in The Home Depot, Inc. (NYSE:HD)

Market Street Wealth Management Advisors LLC bought a new position in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, Holdings Channel.com reports. The firm bought 632 shares of the home improvement retailer’s stock, valued at approximately $219,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. BCK Partners Inc. purchased a new position in shares of Home Depot in the 1st quarter worth approximately $2,933,000. Fairfield Bush & CO. purchased a new position in Home Depot in the first quarter valued at approximately $27,000. Ergoteles LLC purchased a new position in Home Depot in the first quarter valued at approximately $1,554,000. Equitable Holdings Inc. lifted its stake in Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after purchasing an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Home Depot by 3.2% in the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after purchasing an additional 24,640 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.4 %

Shares of NYSE:HD opened at $337.93 on Tuesday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The firm has a fifty day moving average of $369.56 and a 200 day moving average of $338.82. The firm has a market capitalization of $334.90 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,339.65%. The company had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same period in the previous year, the business earned $3.30 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.66%. Home Depot’s payout ratio is 59.60%.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this link. Also, CEO Edward P. Decker sold 35,987 shares of the company’s 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 sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HD has been the topic of several research analyst reports. HSBC reiterated a “reduce” rating and issued a $323.00 price objective on shares of Home Depot in a research note on Wednesday, April 3rd. Evercore ISI upped their price objective on Home Depot from $420.00 to $425.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Wedbush upped their price objective on Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Stifel Nicolaus upped their price objective on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Finally, Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $376.35.

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.