Good Life Advisors LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Good Life Advisors LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,768 shares of the home improvement retailer’s stock after buying an additional 256 shares during the quarter. Good Life Advisors LLC’s holdings in Home Depot were worth $2,114,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HD. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter worth about $5,032,910,000. GAMMA Investing LLC grew its position in shares of Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth about $2,212,546,000. Proficio Capital Partners LLC grew its position in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HD shares. Wells Fargo & Company cut their target price on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Piper Sandler dropped their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Royal Bank of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of 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 SEC, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at $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.

Home Depot Stock Down 2.5%

Home Depot stock opened at $354.10 on Monday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business has a fifty day moving average price of $362.73 and a 200-day moving average price of $382.18. The stock has a market capitalization of $352.31 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Home Depot 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.