Archford Capital Strategies LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,950 shares of the home improvement retailer’s stock after acquiring an additional 241 shares during the quarter. Archford Capital Strategies LLC’s holdings in Home Depot were worth $2,295,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. bought a new position in shares of Home Depot during the first quarter valued at approximately $27,000. Align Wealth Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $30,000. Glassy Mountain Advisors Inc. bought a new position in shares of Home Depot during the fourth quarter valued at approximately $30,000. Studio Investment Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $32,000. Finally, EWG Elevate Inc. bought a new position in shares of Home Depot during the fourth quarter valued at approximately $36,000. 69.91% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Home Depot
In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total value of $440,221.18. Following the completion of the transaction, the executive vice president now owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.
Home Depot Trading Up 0.9 %
Home Depot (NYSE:HD – Free Report) last issued its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.02. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The firm had revenue of $37.26 billion during the quarter, compared to analysts’ expectations of $38.35 billion. During the same quarter last year, the company posted $4.09 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current year.
Home Depot Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $2.09 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $8.36 dividend on an annualized basis and a yield of 2.69%. Home Depot’s payout ratio is 50.94%.
Analysts Set New Price Targets
HD has been the topic of a number of recent research reports. Loop Capital increased their price objective on shares of Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Telsey Advisory Group lowered their target price on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, May 17th. Jefferies Financial Group raised their target price on shares of Home Depot from $337.00 to $349.00 in a research note on Wednesday, June 14th. Truist Financial lowered their target price on shares of Home Depot from $352.00 to $318.00 in a research note on Wednesday, May 17th. Finally, Morgan Stanley lowered their target price on shares of Home Depot from $340.00 to $320.00 in a research note on Wednesday, May 17th. Twelve equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.43.
Home Depot Profile
The Home Depot, Inc operates as a home improvement retailer. 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.
Featured Articles
- Five stocks we like better than Home Depot
- MarketBeat Week in Review – 6/26 – 6/30
- Tesla: Can Downgrades Make Sense After A 170% Rally?
- Buffett’s Berkshire Increases Stake In Occidental Petroleum (OXY)
- Rally Gains Momentum On Soft PCE Data
- Bank of America, JPMorgan, Goldman Sachs Set For Dividend Growth?
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.
