Sendero Wealth Management LLC Purchases New Holdings in The Home Depot, Inc. (NYSE:HD)

Sendero Wealth Management LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 602 shares of the home improvement retailer’s stock, valued at approximately $221,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC boosted its position in Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after buying an additional 257,036 shares during the period. Norges Bank bought a new position in Home Depot in the 4th quarter worth about $5,032,910,000. Capital Research Global Investors increased its position in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after acquiring an additional 647,552 shares during the period. Finally, Northern Trust Corp increased its position in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HD. TD Securities cut Home Depot to a “buy” rating in a research note on Monday. Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Robert W. Baird cut their price target on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. DA Davidson cut their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Seven 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 company. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the 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 transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on 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 sale, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Stock Performance

HD opened at $372.50 on Thursday. The Home Depot, Inc. has a 52-week low of $323.93 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $370.61 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm’s 50-day moving average price is $361.54 and its 200-day moving average price is $385.28.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the company posted $3.63 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

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.