Stockman Wealth Management Inc. Grows Position in The Home Depot, Inc. (NYSE:HD)

Stockman Wealth Management Inc. boosted its stake in The Home Depot, Inc. (NYSE:HD) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,322 shares of the home improvement retailer’s stock after buying an additional 865 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Home Depot were worth $7,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Navigoe LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at about $32,000. Quarry LP raised its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at about $39,000. Finally, NewSquare Capital LLC raised its holdings in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 2.5%

Shares of HD stock opened at $354.10 on Monday. The stock’s 50-day simple moving average is $362.73 and its 200-day simple moving average is $382.18. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $352.31 billion, a PE ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results 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 company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm 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. 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%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HD shares. DA Davidson decreased their price objective on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their price target on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Seven equities 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $426.77.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 2,600 shares of the firm’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 transaction, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

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.