NorthCrest Asset Manangement LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

NorthCrest Asset Manangement LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 72.6% during the 4th quarter, HoldingsChannel reports. The firm owned 95,360 shares of the home improvement retailer’s stock after buying an additional 40,095 shares during the period. Home Depot comprises 1.1% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 16th largest position. NorthCrest Asset Manangement LLC’s holdings in Home Depot were worth $37,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the 4th quarter worth $28,000. Navigoe LLC purchased a new position in shares of Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth $32,000. Finally, Quarry LP boosted its stake in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Wells Fargo & Company dropped their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Truist Financial lifted their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Insider Buying and Selling at Home Depot

In other Home Depot news, 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 completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

NYSE HD opened at $369.96 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm’s 50 day moving average price is $360.38 and its 200-day moving average price is $386.69. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a market cap of $367.75 billion, a PE ratio of 25.13, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $3.63 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.49%. Home Depot’s dividend payout ratio (DPR) is 62.42%.

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.