Lakeridge Wealth Management LLC Buys 49 Shares of The Home Depot, Inc. (NYSE:HD)

Lakeridge Wealth Management LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.3% in the 1st quarter, Holdings Channel reports. The firm owned 1,528 shares of the home improvement retailer’s stock after acquiring an additional 49 shares during the period. Lakeridge Wealth Management LLC’s holdings in Home Depot were worth $560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Navigoe LLC purchased a new stake in Home Depot in the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter worth about $32,000. Quarry LP raised its position in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. Sellwood Investment Partners LLC purchased a new stake in Home Depot in the 4th quarter worth about $39,000. Finally, NewSquare Capital LLC raised its position in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’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 value of $1,996,327.68. Following the sale, the executive vice president now owns 17,367 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm’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 now owns 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Down 2.5%

Shares of NYSE HD opened at $354.10 on Friday. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a market cap of $352.31 billion, a P/E ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. 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 has a fifty day moving average price of $362.73 and a 200 day moving average price of $382.81.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $39.24 billion. During the same period in the previous year, the company earned $3.63 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. Home Depot’s dividend payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Mizuho reduced their target price on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, Gordon Haskett raised their target price on shares of Home Depot from $350.00 to $360.00 in a research report 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.