Zullo Investment Group Inc. boosted its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,267 shares of the home improvement retailer’s stock after acquiring an additional 343 shares during the quarter. Home Depot accounts for 1.3% of Zullo Investment Group Inc.’s investment portfolio, making the stock its 17th biggest position. Zullo Investment Group Inc.’s holdings in Home Depot were worth $2,145,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BCK Partners Inc. purchased a new position in Home Depot in the first quarter valued at about $2,933,000. Fairfield Bush & CO. purchased a new position in Home Depot in the first quarter valued at about $27,000. Ergoteles LLC purchased a new position in Home Depot in the first quarter valued at about $1,554,000. Equitable Holdings Inc. raised its position in Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after purchasing an additional 1,007 shares during the period. Finally, First Trust Advisors LP raised its position in Home Depot by 3.2% in the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after purchasing an additional 24,640 shares during the period. Institutional investors and hedge funds own 69.91% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on the company. Credit Suisse Group cut their price objective on Home Depot from $320.00 to $310.00 in a research report on Wednesday, May 17th. Robert W. Baird lifted their target price on Home Depot from $310.00 to $330.00 in a research report on Tuesday, June 13th. Truist Financial dropped their target price on Home Depot from $352.00 to $318.00 in a research report on Wednesday, May 17th. Sanford C. Bernstein dropped their target price on Home Depot from $333.00 to $314.00 in a research report on Wednesday, May 17th. Finally, The Goldman Sachs Group dropped their target price on Home Depot from $340.00 to $330.00 in a research report on Tuesday, May 16th. Twelve research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $323.43.
Insider Buying and Selling
Home Depot Stock Performance
Shares of HD stock opened at $313.66 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02. The business has a 50 day moving average of $297.53 and a two-hundred day moving average of $302.26. The Home Depot, Inc. has a 52 week low of $265.61 and a 52 week high of $347.25. The company has a market cap of $315.35 billion, a P/E ratio of 19.11, a PEG ratio of 1.97 and a beta of 0.94.
Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $37.26 billion during the quarter, compared to the consensus estimate of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The business’s revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.09 earnings per share. As a group, analysts anticipate that The Home Depot, Inc. will post 14.97 EPS for the current year.
Home Depot Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a dividend of $2.09 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $8.36 annualized dividend and a yield of 2.67%. Home Depot’s payout ratio is 50.94%.
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.
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