DDD Partners LLC Invests $295,000 in The Home Depot, Inc. (NYSE:HD)

DDD Partners LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 805 shares of the home improvement retailer’s stock, valued at approximately $295,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Home Depot in the first quarter valued at $406,000. Wealth Management Partners LLC grew 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 acquiring an additional 36 shares during the period. Arbor Capital Management Inc. ADV grew its position in Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after acquiring an additional 221 shares during the period. Disciplined Investors L.L.C. purchased a new stake in Home Depot during the fourth quarter valued at about $409,000. Finally, ARS Wealth Advisors Group LLC grew its position in Home Depot by 0.8% during the first 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 period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HD. Evercore ISI set a $400.00 price target on Home Depot and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Truist Financial boosted their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Royal Bank Of Canada lowered their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Finally, Piper Sandler lowered their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Seven 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred 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 owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Trading Down 3.0%

Shares of NYSE HD opened at $359.19 on Wednesday. The stock’s 50 day moving average price is $366.31 and its two-hundred day moving average price is $375.02. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a market capitalization of $357.37 billion, a P/E ratio of 24.37, a PEG ratio of 3.52 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

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.