Marietta Wealth Management LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Marietta Wealth Management LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,066 shares of the home improvement retailer’s stock after purchasing an additional 2,452 shares during the period. Home Depot makes up about 1.6% of Marietta Wealth Management LLC’s investment portfolio, making the stock its 18th biggest holding. Marietta Wealth Management LLC’s holdings in Home Depot were worth $11,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HD. Wealth Group Ltd. increased its holdings in Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after purchasing an additional 27 shares in the last quarter. Tallon Kerry Patrick acquired a new stake in Home Depot in the 4th quarter valued at $281,000. Capital & Planning LLC increased its holdings in Home Depot by 110.2% in the 4th quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 563 shares in the last quarter. Ironwood Wealth Management LLC. grew its stake in shares of Home Depot by 0.7% during the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after acquiring an additional 32 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Morgan Stanley restated an “overweight” rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Mizuho lowered their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. DA Davidson lowered their target price 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 target price on shares of Home Depot in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Stock Performance

Shares of NYSE HD opened at $350.21 on Friday. 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 firm’s 50-day moving average price is $362.65 and its two-hundred day moving average price is $380.08. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a market capitalization of $348.44 billion, a P/E ratio of 23.76, a P/E/G ratio of 3.30 and a beta of 1.02.

Home Depot (NYSE:HD) last issued its 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 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 the consensus estimate of $39.24 billion. During the same period in the prior year, the business earned $3.63 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.63%. Home Depot’s dividend payout ratio is currently 62.42%.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred 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 sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 sale, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

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.