Hoey Investments Inc. Increases Position in The Home Depot, Inc. (NYSE:HD)

Hoey Investments Inc. lifted its position in The Home Depot, Inc. (NYSE:HD) by 16.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 708 shares of the home improvement retailer’s stock after purchasing an additional 99 shares during the period. Hoey Investments Inc.’s holdings in Home Depot were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Navigoe LLC bought a new position in shares of Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at $32,000. Quarry LP raised its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. Marshall Investment Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at $41,000. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Truist Financial increased their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Mizuho reduced their target price on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. DA Davidson reduced their target price on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Gordon Haskett raised their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Trading Down 2.5%

NYSE HD opened at $354.10 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $352.31 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company’s 50-day simple moving average is $362.73 and its two-hundred day simple moving average is $382.81.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.63 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 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.