Northstar Financial Companies Inc. Acquires Shares of 2,411 The Home Depot, Inc. (NYSE:HD)

Northstar Financial Companies Inc. acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,411 shares of the home improvement retailer’s stock, valued at approximately $938,000. Home Depot accounts for about 0.9% of Northstar Financial Companies Inc.’s investment portfolio, making the stock its 21st largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Synergy Asset Management LLC acquired a new position in Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $32,000. Finally, Quarry LP lifted its stake in Home Depot by 220.0% in 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 in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Up 2.0%

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

Home Depot (NYSE:HD) last announced its quarterly 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). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the firm earned $3.63 EPS. Home Depot’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is presently 62.42%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Tuesday, May 20th. Robert W. Baird cut their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Wells Fargo & Company lowered their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. TD Securities restated a “buy” rating and issued a $470.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada dropped their price objective 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 equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

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.