Davis Rea LTD. Acquires New Shares in The Home Depot, Inc. (NYSE:HD)

Davis Rea LTD. bought a new stake in The Home Depot, Inc. (NYSE:HD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,769 shares of the home improvement retailer’s stock, valued at approximately $3,947,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Home Depot by 36.5% in 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 during the period. Bank Pictet & Cie Europe AG lifted its holdings in Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock valued at $4,747,000 after acquiring an additional 565 shares during the period. Zions Bancorporation N.A. lifted its holdings in Home Depot by 19.1% in the fourth quarter. Zions Bancorporation N.A. now owns 7,092 shares of the home improvement retailer’s stock valued at $2,759,000 after acquiring an additional 1,138 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in shares of Home Depot during the 4th quarter worth approximately $639,000. Finally, Morey & Quinn Wealth Partners LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $1,018,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD traded down $0.16 on Thursday, reaching $376.19. 387,058 shares of the company traded hands, compared to its average volume of 3,542,171. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company’s 50 day moving average is $365.82 and its 200-day moving average is $374.10. The stock has a market capitalization of $374.28 billion, a PE ratio of 25.54, a P/E/G ratio of 3.53 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the company posted $3.63 EPS. Home Depot’s revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. Home Depot’s payout ratio is currently 62.42%.

Insiders Place Their Bets

In other news, 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 value of $1,996,327.68. Following the completion of the sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial upped their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. 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 research note on Wednesday, May 21st. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $426.77.

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.