Riversedge Advisors LLC Has $442,000 Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Riversedge Advisors LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,207 shares of the home improvement retailer’s stock after acquiring an additional 88 shares during the quarter. Riversedge Advisors LLC’s holdings in Home Depot were worth $442,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HD. Brighton Jones LLC lifted its stake in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock valued at $4,747,000 after purchasing an additional 565 shares during the period. Proficio Capital Partners LLC raised its position in shares of Home Depot by 11.1% in the fourth quarter. Proficio Capital Partners LLC now owns 10,545 shares of the home improvement retailer’s stock valued at $4,102,000 after purchasing an additional 1,055 shares during the period. Integras Partners LLC bought a new position in shares of Home Depot in the fourth quarter valued at approximately $3,443,000. Finally, LBP AM SA raised its position in shares of Home Depot by 97.6% in the fourth quarter. LBP AM SA now owns 102,033 shares of the home improvement retailer’s stock valued at $39,690,000 after purchasing an additional 50,409 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on HD. Piper Sandler dropped their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company set a $420.00 price target on shares of Home Depot and gave the company an “overweight” rating in a research report on Monday, June 30th. TD Securities lowered shares of Home Depot to a “buy” rating in a research report on Monday, June 2nd. Jefferies Financial Group dropped their price target on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Trading Down 0.8%

Shares of Home Depot stock opened at $370.15 on Friday. The firm has a market capitalization of $368.27 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The company’s fifty day moving average price is $366.14 and its two-hundred day moving average price is $375.57. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

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 firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the firm posted $3.63 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

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. This represents a $9.20 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s 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 sale, the executive vice president owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was 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 corporate insiders.

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.