Capital Planning Advisors LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Capital Planning Advisors LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 8.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 12,183 shares of the home improvement retailer’s stock after acquiring an additional 972 shares during the quarter. Capital Planning Advisors LLC’s holdings in Home Depot were worth $4,739,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC boosted its position in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Home Depot in the 3rd quarter valued at about $336,231,000. FMR LLC boosted its position in shares of Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Home Depot by 295.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after purchasing an additional 518,054 shares during the period. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at about $159,365,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $414.53 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a fifty day moving average of $407.01 and a two-hundred day moving average of $389.64. The company has a market capitalization of $411.77 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 4.32 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.81 earnings per share. On average, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Morgan Stanley increased their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler increased their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.