Inscription Capital LLC Takes $4.05 Million Position in The Home Depot, Inc. (NYSE:HD)

Inscription Capital LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 1st quarter, HoldingsChannel.com reports. The firm bought 10,555 shares of the home improvement retailer’s stock, valued at approximately $4,049,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc increased its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after buying an additional 3,590 shares in the last quarter. Wealth Management Partners LLC grew its position in Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after acquiring an additional 36 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Disciplined Investors L.L.C. bought a new position in Home Depot in the 4th quarter valued at $409,000. Finally, ARS Wealth Advisors Group LLC boosted its stake in Home Depot by 0.8% in the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after purchasing an additional 239 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on 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 directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HD. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their price objective on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Piper Sandler decreased their price objective 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, DA Davidson dropped their target price on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Seven equities 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.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Trading Down 0.3%

NYSE:HD opened at $353.59 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business’s 50-day simple moving average is $363.12 and its 200-day simple moving average is $381.65. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market capitalization of $351.79 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.63 earnings per share. Sell-side analysts expect 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. Investors of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is presently 62.42%.

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.