CogentBlue Wealth Advisors LLC Invests $287,000 in The Home Depot, Inc. (NYSE:HD)

CogentBlue Wealth Advisors LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 782 shares of the home improvement retailer’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Navigoe LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Quarry LP lifted its position 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 valued at $37,000 after buying an additional 66 shares during the last quarter. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $39,000. Finally, NewSquare Capital LLC boosted its stake in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares during the period. 70.86% of the stock is owned by institutional investors.

Insider Activity

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 owns 17,367 shares of the company’s stock, 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 currently owned by corporate insiders.

Home Depot Price Performance

HD stock opened at $354.10 on Friday. The company’s 50-day moving average price is $362.73 and its two-hundred day moving average price is $382.50. The firm 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 quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 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 the consensus estimate of $39.24 billion. During the same period last year, the business earned $3.63 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders 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 dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HD. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Robert W. Baird reduced their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Finally, Royal Bank of Canada cut their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Seven 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.