Moss Adams Wealth Advisors LLC Purchases 1,085 Shares of The Home Depot, Inc. (NYSE:HD)

Moss Adams Wealth Advisors LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,112 shares of the home improvement retailer’s stock after acquiring an additional 1,085 shares during the quarter. Home Depot makes up approximately 0.3% of Moss Adams Wealth Advisors LLC’s investment portfolio, making the stock its 28th largest position. Moss Adams Wealth Advisors LLC’s holdings in Home Depot were worth $2,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HD. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the fourth quarter worth about $28,000. Navigoe LLC bought a new position in shares of Home Depot in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $32,000. Quarry LP lifted its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the last quarter. Finally, Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the fourth quarter worth about $39,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $367.45 on Monday. The company has a market cap of $365.59 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a 50 day moving average of $361.63 and a 200-day moving average of $384.44.

Home Depot (NYSE:HD) last issued 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 return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the business earned $3.63 earnings per share. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HD shares. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an “outperform” rating in a research note on Thursday, May 22nd. DA Davidson lowered their price objective on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Truist Financial upped their price objective on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

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.