Conestoga Capital Advisors LLC Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Conestoga Capital Advisors LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 15.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 650 shares of the home improvement retailer’s stock after purchasing an additional 85 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Home Depot were worth $238,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. K.J. Harrison & Partners Inc boosted its stake in shares of Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Wealth Management Partners LLC boosted its position 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 buying an additional 36 shares during the period. Ashton Thomas Private Wealth LLC grew its stake in shares of 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 buying an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of Home Depot in the fourth quarter worth about $409,000. Finally, ARS Wealth Advisors Group LLC lifted 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 valued at $11,628,000 after acquiring an additional 239 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $353.59 on Tuesday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm’s 50-day simple moving average is $363.12 and its two-hundred day simple moving average is $381.65. The stock has a market cap of $351.79 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted 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 return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s dividend payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HD shares. Mizuho dropped their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Truist Financial increased their price objective on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Robert W. Baird lowered their price target on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Finally, Gordon Haskett raised their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction on Wednesday, May 28th. The stock was 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 owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.