Retirement Guys Formula LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Retirement Guys Formula LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,319 shares of the home improvement retailer’s stock, valued at approximately $1,273,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Research Global Investors grew its holdings in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after purchasing an additional 992,444 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock worth $4,540,197,000 after buying an additional 347,614 shares during the period. Norges Bank purchased a new position in Home Depot during the fourth quarter worth $4,311,070,000. Fisher Asset Management LLC boosted its stake in Home Depot by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after buying an additional 195,670 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Home Depot by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,465,972 shares of the home improvement retailer’s stock worth $2,240,783,000 after buying an additional 82,672 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $333.64 on Friday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The firm has a market capitalization of $330.84 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.30 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The stock’s 50-day simple moving average is $338.48 and its 200-day simple moving average is $352.30.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.82 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.70%. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Truist Financial decreased their target price on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

About Home Depot

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.