Red Door Wealth Management LLC Has $7.98 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Red Door Wealth Management LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,791 shares of the home improvement retailer’s stock after acquiring an additional 892 shares during the period. Home Depot accounts for 1.5% of Red Door Wealth Management LLC’s portfolio, making the stock its 18th largest position. Red Door Wealth Management LLC’s holdings in Home Depot were worth $7,975,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in HD. Norges Bank bought a new position in Home Depot during the fourth quarter worth about $4,311,070,000. International Assets Investment Management LLC raised its position in shares of Home Depot by 12,647.4% during the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock worth $1,930,104,000 after purchasing an additional 5,525,791 shares during the period. Jennison Associates LLC raised its position in shares of Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the period. Capital Research Global Investors raised its position in shares of Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares during the period. Finally, TD Asset Management Inc raised its position in shares of Home Depot by 38.9% during the fourth quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock worth $613,258,000 after purchasing an additional 495,894 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

NYSE HD traded up $2.75 during midday trading on Friday, hitting $344.24. The company had a trading volume of 6,344,192 shares, compared to its average volume of 3,519,389. The company has a market capitalization of $341.35 billion, a PE ratio of 23.09, a P/E/G ratio of 2.38 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The firm has a 50-day moving average price of $338.51 and a 200-day moving average price of $352.74. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.82 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.61%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analyst Ratings Changes

A number of research firms have recently commented on HD. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company dropped their target price on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Citigroup dropped their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Tuesday, May 14th. Finally, Guggenheim reissued a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $378.42.

Home Depot 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.