Blodgett Wealth Advisors LLC Has $2.06 Million Stake in The Home Depot, Inc. (NYSE:HD)

Blodgett Wealth Advisors LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,297 shares of the home improvement retailer’s stock after purchasing an additional 300 shares during the quarter. Home Depot comprises about 1.6% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 11th largest position. Blodgett Wealth Advisors LLC’s holdings in Home Depot were worth $2,061,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $26,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot in the third quarter worth about $41,000. Sugar Maple Asset Management LLC bought a new stake in Home Depot during the 4th quarter worth about $41,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the 3rd quarter valued at about $46,000. Finally, Finley Financial LLC bought a new position in shares of Home Depot in the 4th quarter valued at about $59,000. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Morgan Stanley lifted their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. TD Cowen increased their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Royal Bank of Canada boosted their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. One 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

Shares of HD opened at $411.79 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company’s fifty day simple moving average is $407.47 and its 200 day simple moving average is $393.07. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The company has a market cap of $409.05 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 4.34 and a beta of 1.05.

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

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % 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 hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by 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.