HighPoint Advisor Group LLC Invests $12.59 Million in The Home Depot, Inc. (NYSE:HD)

HighPoint Advisor Group LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,832 shares of the home improvement retailer’s stock, valued at approximately $12,591,000. Home Depot comprises 1.0% of HighPoint Advisor Group LLC’s portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Home Depot in the 4th quarter valued at about $4,311,070,000. International Assets Investment Management LLC increased its holdings 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 worth $1,930,104,000 after purchasing an additional 5,525,791 shares in the last quarter. 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 boosted its holdings in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of Home Depot by 38.9% during the 4th quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock worth $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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HD shares. Bank of America increased their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Wedbush reaffirmed an “outperform” rating and set a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. Truist Financial reduced their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, UBS Group lowered their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $377.46.

Home Depot Trading Up 1.3 %

Shares of Home Depot stock opened at $353.95 on Wednesday. The company’s 50-day moving average price is $337.18 and its 200-day moving average price is $351.78. The company has a market cap of $350.98 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 2.41 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating 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 company had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same quarter last year, the company earned $3.82 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Insider Buying and Selling

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

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.