Peak Financial Management Inc. Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Peak Financial Management Inc. bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 591 shares of the home improvement retailer’s stock, valued at approximately $230,000.

Several other institutional investors have also recently made changes to their positions in the business. Abacus Wealth Partners LLC raised its holdings in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares during the period. Insight Inv LLC grew its position in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares in the last quarter. Marino Stram & Associates LLC boosted its holdings in shares of Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the period. Finally, Capital City Trust Co. FL boosted its holdings in shares of Home Depot by 1.1% during the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. Truist Financial increased their price objective on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho raised their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

Shares of HD stock opened at $418.83 on Wednesday. The stock has a market cap of $416.04 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 4.32 and a beta of 1.05. The business’s fifty day moving average is $407.42 and its 200 day moving average is $391.36. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the firm earned $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.15%. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Transactions at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

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.