The Home Depot, Inc. (NYSE:HD) Shares Acquired by Hoey Investments Inc.

Hoey Investments Inc. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 16.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 708 shares of the home improvement retailer’s stock after purchasing an additional 99 shares during the quarter. Hoey Investments Inc.’s holdings in Home Depot were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CRA Financial Services LLC lifted its stake in shares of Home Depot by 0.7% during the first quarter. CRA Financial Services LLC now owns 16,460 shares of the home improvement retailer’s stock worth $6,032,000 after buying an additional 119 shares during the period. Opal Wealth Advisors LLC lifted its stake in shares of Home Depot by 1.6% during the first quarter. Opal Wealth Advisors LLC now owns 2,207 shares of the home improvement retailer’s stock worth $809,000 after buying an additional 35 shares during the period. Pathway Financial Advisors LLC lifted its stake in shares of Home Depot by 20.9% during the first quarter. Pathway Financial Advisors LLC now owns 2,592 shares of the home improvement retailer’s stock worth $950,000 after buying an additional 448 shares during the period. Southland Equity Partners LLC lifted its stake in shares of Home Depot by 7.2% during the first quarter. Southland Equity Partners LLC now owns 2,410 shares of the home improvement retailer’s stock worth $883,000 after buying an additional 161 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of Home Depot during the first quarter worth $5,131,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Sanford C. Bernstein reissued a “market perform” rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. DA Davidson reduced their target price on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Finally, Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Down 2.5%

HD stock opened at $354.10 on Friday. The stock has a market capitalization of $352.31 billion, a P/E ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. The firm has a 50-day simple moving average of $362.73 and a 200-day simple moving average of $382.81. 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 Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.63 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s dividend payout ratio is currently 62.42%.

Home Depot 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.