Advisory Services Network LLC Purchases 450 Shares of The Home Depot, Inc. (NYSE:HD)

Advisory Services Network LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,425 shares of the home improvement retailer’s stock after purchasing an additional 450 shares during the period. Home Depot makes up about 0.6% of Advisory Services Network LLC’s investment portfolio, making the stock its 19th biggest holding. Advisory Services Network LLC’s holdings in Home Depot were worth $25,097,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in HD. Cape Investment Advisory Inc. lifted its stake in Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after purchasing an additional 28 shares in the last quarter. Optas LLC raised its position in shares of Home Depot by 1.7% in the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after buying an additional 29 shares in the last quarter. STAR Financial Bank boosted its stake in Home Depot by 0.7% during the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after buying an additional 29 shares during the period. Armstrong Henry H Associates Inc. grew its position in Home Depot by 0.3% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after buying an additional 30 shares in the last quarter. Finally, CGC Financial Services LLC increased its stake in Home Depot by 4.3% in the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HD has been the subject of several recent analyst reports. Truist Financial cut their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Citigroup cut their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research note on Tuesday, May 14th. TD Cowen lowered their price objective on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Evercore ISI increased their target price on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $378.42.

Home Depot Price Performance

Shares of NYSE HD opened at $359.77 on Friday. The company has a market capitalization of $356.75 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 2.44 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 Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a 50 day simple moving average of $339.52 and a two-hundred day simple moving average of $352.10.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. During the same quarter last year, the firm earned $3.82 earnings per share. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is currently 60.36%.

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.