Linden Thomas Advisory Services LLC Increases Stake in The Home Depot, Inc. (NYSE:HD)

Linden Thomas Advisory Services LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% in the 1st quarter, Holdings Channel reports. The firm owned 13,073 shares of the home improvement retailer’s stock after buying an additional 570 shares during the period. Home Depot accounts for approximately 0.6% of Linden Thomas Advisory Services LLC’s holdings, making the stock its 21st biggest position. Linden Thomas Advisory Services LLC’s holdings in Home Depot were worth $4,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Navigoe LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $29,000. Abound Financial LLC purchased a new position in Home Depot in the first quarter worth approximately $31,000. Quarry LP lifted its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the last quarter. Sellwood Investment Partners LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $39,000. Finally, Spurstone Advisory Services LLC acquired a new position in Home Depot in the 4th quarter valued at $45,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on 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 directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% 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.

Home Depot Price Performance

HD opened at $367.45 on Wednesday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-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 stock’s 50 day moving average price is $365.52 and its 200-day moving average price is $375.92. The stock has a market capitalization of $365.59 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.50 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the prior year, the business posted $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is 62.42%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HD. TD Securities lowered shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Guggenheim reiterated a “buy” rating and issued a $450.00 target price on shares of Home Depot 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 report on Tuesday, May 20th. Finally, Wells Fargo & Company set a $420.00 target price on Home Depot and gave the company an “overweight” rating in a research note on Monday, June 30th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average 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.