Clarity Wealth Advisors LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Clarity Wealth Advisors LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 16.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,339 shares of the home improvement retailer’s stock after acquiring an additional 185 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in Home Depot were worth $514,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HD. Chatham Capital Group Inc. lifted its position in shares of Home Depot by 8.0% in the first quarter. Chatham Capital Group Inc. now owns 12,451 shares of the home improvement retailer’s stock valued at $4,776,000 after acquiring an additional 917 shares in the last quarter. Sandy Cove Advisors LLC lifted its holdings in Home Depot by 3.6% in the 1st quarter. Sandy Cove Advisors LLC now owns 1,832 shares of the home improvement retailer’s stock valued at $703,000 after purchasing an additional 63 shares in the last quarter. Dumont & Blake Investment Advisors LLC boosted its stake in Home Depot by 10.0% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 1,106 shares of the home improvement retailer’s stock worth $424,000 after purchasing an additional 101 shares during the last quarter. D.B. Root & Company LLC grew its holdings in shares of Home Depot by 4.5% during the first quarter. D.B. Root & Company LLC now owns 5,772 shares of the home improvement retailer’s stock worth $2,214,000 after buying an additional 246 shares in the last quarter. Finally, Trilogy Capital Inc. raised its position in shares of Home Depot by 4.1% in the first quarter. Trilogy Capital Inc. now owns 914 shares of the home improvement retailer’s stock valued at $350,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HD shares. Truist Financial lowered their price target on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Wedbush restated an “outperform” rating and set a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Tuesday, May 14th. Finally, StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Stock Up 0.8 %

Home Depot stock opened at $344.24 on Monday. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The firm has a 50 day moving average price of $338.51 and a 200 day moving average price of $352.80. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a market capitalization of $341.35 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.61%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Insider Transactions at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

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.