Novem Group Has $1.05 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Novem Group lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 18.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,872 shares of the home improvement retailer’s stock after buying an additional 453 shares during the quarter. Novem Group’s holdings in Home Depot were worth $1,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter worth $29,000. Quarry LP increased its position in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. Sellwood Investment Partners LLC bought a new stake in Home Depot during the 4th quarter worth about $39,000. NewSquare Capital LLC lifted its position in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. Finally, Spurstone Advisory Services LLC acquired a new position in Home Depot during the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HD. Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the company an “overweight” rating in a research report on Monday. Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Monday. Seven 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’s stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president directly owned 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 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 disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of Home Depot stock opened at $372.05 on Thursday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a market cap of $370.16 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The stock’s 50-day moving average is $364.63 and its 200-day moving average is $376.86. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

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.