Cove Private Wealth LLC Takes $2.21 Million Position in The Home Depot, Inc. (NYSE:HD)

Cove Private Wealth LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,378 shares of the home improvement retailer’s stock, valued at approximately $2,210,000. Home Depot accounts for about 2.1% of Cove Private Wealth LLC’s portfolio, making the stock its 11th biggest holding.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Home Depot in the fourth quarter valued at about $4,311,070,000. International Assets Investment Management LLC lifted its stake in Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after buying an additional 5,525,791 shares during the period. Jennison Associates LLC lifted its stake in Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after buying an additional 1,207,388 shares during the period. Capital Research Global Investors lifted its stake in Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after buying an additional 992,444 shares during the period. Finally, TD Asset Management Inc lifted its stake in Home Depot by 38.9% in the fourth quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock valued at $613,258,000 after buying an additional 495,894 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several analyst reports. Evercore ISI increased their target price on Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. HSBC cut their target price on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Bank of America raised their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Royal Bank of Canada raised their price target on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.46.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Up 0.8 %

NYSE:HD opened at $349.50 on Tuesday. The firm has a market capitalization of $346.57 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.40 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock’s 50 day moving average price is $337.33 and its two-hundred day moving average price is $351.54. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the previous year, the firm earned $3.82 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.58%. Home Depot’s dividend payout ratio is currently 60.36%.

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.