Parisi Gray Wealth Management Acquires 1,515 Shares of The Home Depot, Inc. (NYSE:HD)

Parisi Gray Wealth Management grew its holdings in The Home Depot, Inc. (NYSE:HD) by 12.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,811 shares of the home improvement retailer’s stock after purchasing an additional 1,515 shares during the period. Home Depot makes up about 1.7% of Parisi Gray Wealth Management’s portfolio, making the stock its 19th biggest position. Parisi Gray Wealth Management’s holdings in Home Depot were worth $5,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. POM Investment Strategies LLC raised its position in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. grew its position in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares during the period. Live Oak Private Wealth LLC raised its holdings in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares during the last quarter. Mezzasalma Advisors LLC lifted its stake in Home Depot by 4.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock valued at $255,000 after acquiring an additional 25 shares in the last quarter. Finally, Focused Wealth Management Inc increased its stake in Home Depot by 2.4% in the 4th quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer’s stock valued at $421,000 after buying an additional 25 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $367.45 on Monday. 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 Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market cap of $365.59 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The business has a 50 day moving average price of $361.63 and a 200-day moving average price of $384.44.

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 the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the previous year, the company earned $3.63 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated 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 owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Robert W. Baird lowered their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. TD Securities cut shares of Home Depot to a “buy” rating in a research note on Monday, June 2nd. Jefferies Financial Group dropped their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company lowered their price objective on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Seven 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

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.