Legacy Edge Advisors LLC Invests $1.08 Million in The Home Depot, Inc. $HD

Legacy Edge Advisors LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,147 shares of the home improvement retailer’s stock, valued at approximately $1,083,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Stegent Equity Advisors Inc. lifted its position in Home Depot by 2.7% during the third quarter. Stegent Equity Advisors Inc. now owns 1,006 shares of the home improvement retailer’s stock worth $408,000 after buying an additional 26 shares in the last quarter. Unique Wealth LLC raised its stake in Home Depot by 1.2% during the third quarter. Unique Wealth LLC now owns 2,280 shares of the home improvement retailer’s stock worth $924,000 after purchasing an additional 27 shares during the period. Arcus Capital Partners LLC raised its stake in Home Depot by 1.1% during the third quarter. Arcus Capital Partners LLC now owns 2,445 shares of the home improvement retailer’s stock worth $991,000 after purchasing an additional 27 shares during the period. Westfuller Advisors LLC raised its stake in Home Depot by 2.1% during the fourth quarter. Westfuller Advisors LLC now owns 1,325 shares of the home improvement retailer’s stock worth $456,000 after purchasing an additional 27 shares during the period. Finally, Darwin Wealth Management LLC raised its stake in Home Depot by 0.5% during the fourth quarter. Darwin Wealth Management LLC now owns 4,949 shares of the home improvement retailer’s stock worth $1,703,000 after purchasing an additional 27 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Richard V. Mcphail sold 2,550 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $368.89, for a total value of $940,669.50. Following the sale, the chief financial officer owned 44,566 shares in the company, valued at approximately $16,439,951.74. The trade was a 5.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HD. Robert W. Baird lifted their target price on shares of Home Depot from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. DA Davidson lifted their target price on shares of Home Depot from $407.00 to $445.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Evercore reduced their target price on Home Depot from $425.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Wolfe Research lifted their target price on Home Depot from $413.00 to $414.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Finally, Truist Financial set a $424.00 target price on Home Depot in a research report on Tuesday, February 24th. Twenty equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $414.17.

Home Depot Price Performance

Home Depot stock opened at $324.22 on Friday. The company’s 50 day simple moving average is $343.27 and its 200-day simple moving average is $359.22. The company has a market capitalization of $322.93 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.54 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $315.31 and a 1 year high of $426.75. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.26 and a current ratio of 1.06.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 24th. The home improvement retailer reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.20. The firm had revenue of $38.20 billion for the quarter, compared to the consensus estimate of $38.01 billion. Home Depot had a return on equity of 134.32% and a net margin of 8.60%.The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 EPS. Home Depot has set its FY 2026 guidance at 14.230-14.799 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.03 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were issued a $2.33 dividend. The ex-dividend date was Thursday, March 12th. This represents a $9.32 annualized dividend and a dividend yield of 2.9%. This is a boost from Home Depot’s previous quarterly dividend of $2.30. Home Depot’s dividend payout ratio (DPR) is presently 65.50%.

Home Depot Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.