Beacon Financial Group Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Beacon Financial Group increased its stake in The Home Depot, Inc. (NYSE:HD) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,162 shares of the home improvement retailer’s stock after acquiring an additional 31 shares during the period. Beacon Financial Group’s holdings in Home Depot were worth $1,892,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. K.J. Harrison & Partners Inc increased its stake in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after buying an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $409,000. JPL Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $3,193,000. Finally, Umpqua Bank lifted its position in shares of Home Depot by 26.5% during the 4th quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock worth $2,425,000 after purchasing an additional 1,294 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.2%

NYSE:HD opened at $372.50 on Thursday. The Home Depot, Inc. has a 12-month low of $323.93 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock’s 50 day simple moving average is $361.54 and its 200-day simple moving average is $385.28. The firm has a market cap of $370.61 billion, a P/E ratio of 25.31, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the company posted $3.63 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Gordon Haskett increased their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Sanford C. Bernstein reissued a “market perform” rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Truist Financial upped 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, Piper Sandler cut their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 completion of the transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction that occurred on 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 now directly owns 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 owned by corporate insiders.

About Home Depot

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.