The Home Depot, Inc. (NYSE:HD) Shares Purchased by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,474 shares of the home improvement retailer’s stock after purchasing an additional 324 shares during the period. Lake Street Private Wealth LLC’s holdings in Home Depot were worth $3,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Norges Bank purchased a new position in Home Depot in the fourth quarter valued at $4,311,070,000. International Assets Investment Management LLC raised its position in shares of Home Depot by 12,647.4% during the 4th 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 acquiring an additional 5,525,791 shares in the last quarter. Jennison Associates LLC lifted its stake in Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Home Depot by 7.2% in the 4th 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 in the last quarter. Finally, TD Asset Management Inc boosted 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 acquiring an additional 495,894 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on HD shares. Citigroup reduced their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Wells Fargo & Company decreased their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Finally, Bank of America boosted their price target 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. One 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Stock Performance

Shares of HD stock opened at $333.58 on Thursday. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The company’s fifty day moving average price is $338.43 and its two-hundred day moving average price is $352.56. The firm has a market capitalization of $330.78 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.31 and a beta of 0.98. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

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, topping the consensus estimate of $3.61 by $0.02. The company had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.82 EPS. On average, research analysts anticipate 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 declared 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. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. Home Depot’s payout ratio is 60.36%.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by corporate insiders.

About Home Depot

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.