HighPoint Advisor Group LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

HighPoint Advisor Group LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,477 shares of the home improvement retailer’s stock after buying an additional 2,366 shares during the quarter. Home Depot comprises 0.8% of HighPoint Advisor Group LLC’s portfolio, making the stock its 24th biggest holding. HighPoint Advisor Group LLC’s holdings in Home Depot were worth $13,095,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of 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 purchasing an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after buying an additional 565 shares during the period. Runnymede Capital Advisors Inc. purchased a new position in shares of Home Depot during the fourth quarter worth $54,000. Sei Investments Co. boosted its holdings in Home Depot by 2.4% in the fourth quarter. Sei Investments Co. now owns 236,407 shares of the home improvement retailer’s stock valued at $91,963,000 after purchasing an additional 5,504 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in Home Depot by 21.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 2,700 shares of the home improvement retailer’s stock valued at $1,050,000 after purchasing an additional 470 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 0.4%

HD stock opened at $360.75 on Monday. The company has a market cap of $358.92 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.42 and a beta of 1.00. The company has a 50 day moving average of $366.03 and a two-hundred day moving average of $374.29. 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 Home Depot, Inc. has a 12-month low of $326.31 and a 12-month 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 analysts’ consensus estimates 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 previous year, the business posted $3.63 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.55%. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business’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 transaction of $954,564.00. Following the completion of the sale, the executive vice president directly owned 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. TD Securities downgraded Home Depot to a “buy” rating in a report on Monday, June 2nd. 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 report on Wednesday, May 21st. Truist Financial boosted their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Finally, Gordon Haskett boosted their price target on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

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.