Simon Quick Advisors LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Simon Quick Advisors LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 13.2% in the first quarter, HoldingsChannel reports. The firm owned 8,275 shares of the home improvement retailer’s stock after buying an additional 965 shares during the quarter. Simon Quick Advisors LLC’s holdings in Home Depot were worth $3,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HD. Norges Bank bought a new stake in Home Depot during the fourth quarter worth approximately $5,032,910,000. GAMMA Investing LLC increased its stake in Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC increased its stake in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $360.35 on Thursday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a fifty day moving average price of $361.89 and a 200-day moving average price of $383.78. 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 firm has a market cap of $358.52 billion, a PE ratio of 24.48, a P/E/G ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last released its earnings results 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 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the company earned $3.63 earnings per share. Home Depot’s revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.55%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Evercore ISI set a $400.00 price objective on Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. TD Securities cut Home Depot to a “buy” rating in a research note on Monday, June 2nd. Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

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.