USA Financial Formulas Buys 44 Shares of The Home Depot, Inc. (NYSE:HD)

USA Financial Formulas boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 25.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 218 shares of the home improvement retailer’s stock after acquiring an additional 44 shares during the period. USA Financial Formulas’ holdings in Home Depot were worth $80,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. K.J. Harrison & Partners Inc grew its stake in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares in the last quarter. Wealth Management Partners LLC grew its stake in Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after acquiring an additional 36 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after acquiring an additional 3,873 shares in the last quarter. Disciplined Investors L.L.C. purchased a new position in Home Depot during the fourth quarter valued at $409,000. Finally, ARS Wealth Advisors Group LLC grew its stake in shares of Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after buying an additional 239 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

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

Home Depot Trading Down 2.1%

Shares of HD opened at $360.35 on Thursday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a 50-day moving average of $361.89 and a 200 day moving average of $383.78. The firm has a market capitalization of $358.52 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 4.03 and a beta of 1.02. 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 data 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 net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the business earned $3.63 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.55%. Home Depot’s payout ratio is 62.42%.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. TD Securities cut shares of Home Depot to a “buy” rating in a research note on Monday, June 2nd. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Finally, Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Company Profile

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.