MBA Advisors LLC Buys 121 Shares of The Home Depot, Inc. (NYSE:HD)

MBA Advisors LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,714 shares of the home improvement retailer’s stock after buying an additional 121 shares during the quarter. MBA Advisors LLC’s holdings in Home Depot were worth $628,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Asset Planning Services Inc. LA ADV grew its position in Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the last quarter. Norges Bank purchased a new position in Home Depot in the 4th quarter worth approximately $5,032,910,000. GAMMA Investing LLC lifted its position in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Home Depot during the 4th quarter valued at $2,212,546,000. Finally, Northern Trust Corp increased its holdings in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president directly owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The shares were 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 owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. TD Securities cut shares of Home Depot to a “buy” rating in a research note on Monday, June 2nd. Piper Sandler dropped their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. boosted their price target on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Finally, Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. 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. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Trading Down 0.1%

Shares of Home Depot stock opened at $371.36 on Friday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The company has a market capitalization of $369.47 billion, a P/E ratio of 25.19, a P/E/G ratio of 3.54 and a beta of 1.00. The company has a fifty day moving average of $364.86 and a 200 day moving average of $376.59.

Home Depot (NYSE:HD) last released 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 return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same period last year, the company earned $3.63 EPS. The business’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.48%. Home Depot’s payout ratio 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.