Wealth Effects LLC Acquires 78 Shares of The Home Depot, Inc. (NYSE:HD)

Wealth Effects LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,531 shares of the home improvement retailer’s stock after buying an additional 78 shares during the quarter. Wealth Effects LLC’s holdings in Home Depot were worth $984,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the third quarter worth about $41,000. Sugar Maple Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $41,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the third quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot in the second quarter worth $47,000. Finally, Quarry LP raised its holdings in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after purchasing an additional 36 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE HD opened at $414.56 on Friday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a market capitalization of $411.81 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. 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 firm has a 50 day moving average of $407.93 and a 200 day moving average of $391.93.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the firm posted $3.81 EPS. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

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

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective on the stock. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. DA Davidson upped their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Truist Financial lifted their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Company 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.