BluePointe Capital Management LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

BluePointe Capital Management LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the first quarter, HoldingsChannel.com reports. The fund purchased 674 shares of the home improvement retailer’s stock, valued at approximately $247,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC raised its position in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after buying an additional 257,036 shares during the last quarter. Asset Planning Services Inc. LA ADV raised its position in shares of Home Depot by 99,400.7% during the first 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 buying an additional 18,956,701 shares during the last quarter. Norges Bank bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $5,032,910,000. Finally, Capital Research Global Investors raised its position in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Royal Bank Of Canada cut their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the company an “outperform” rating in a report on Thursday, May 22nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Monday, June 30th. Finally, Truist Financial lifted their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Stock Up 0.1%

Shares of NYSE:HD opened at $370.30 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The business has a fifty day moving average of $366.32 and a two-hundred day moving average of $375.13. The stock has a market cap of $368.42 billion, a P/E ratio of 25.12, a PEG ratio of 3.52 and a beta of 1.00. 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 posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.63 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction 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 trade represents a 23.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents 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 company 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.