LifeWealth Investments LLC Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

LifeWealth Investments LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 82.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,866 shares of the home improvement retailer’s stock after acquiring an additional 845 shares during the quarter. LifeWealth Investments LLC’s holdings in Home Depot were worth $684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Navigoe LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the 4th quarter valued at approximately $32,000. Quarry LP increased its holdings in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Sellwood Investment Partners LLC acquired a new position in shares of Home Depot in the 4th quarter valued at approximately $39,000. Finally, NewSquare Capital LLC raised its position in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Wedbush reissued an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. DA Davidson cut their target price on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Stock Performance

Shares of Home Depot stock opened at $348.74 on Wednesday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The stock has a market cap of $346.97 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 3.36 and a beta of 1.02. The business has a fifty day simple moving average of $363.01 and a 200-day simple moving average of $381.43.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the prior year, the company posted $3.63 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is 62.42%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.