Brooklyn Investment Group Increases Stake in The Home Depot, Inc. (NYSE:HD)

Brooklyn Investment Group boosted its stake in The Home Depot, Inc. (NYSE:HD) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,784 shares of the home improvement retailer’s stock after buying an additional 486 shares during the period. Home Depot accounts for approximately 0.8% of Brooklyn Investment Group’s portfolio, making the stock its 23rd largest position. Brooklyn Investment Group’s holdings in Home Depot were worth $2,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. WFA Asset Management Corp increased its position in Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after buying an additional 135 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Home Depot by 5.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock valued at $4,381,000 after purchasing an additional 623 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Home Depot during the 1st quarter valued at about $430,000. Creekmur Asset Management LLC increased its stake in shares of Home Depot by 19.2% in the first quarter. Creekmur Asset Management LLC now owns 540 shares of the home improvement retailer’s stock worth $207,000 after purchasing an additional 87 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Home Depot by 13.2% during the first quarter. Tidal Investments LLC now owns 58,528 shares of the home improvement retailer’s stock valued at $22,468,000 after acquiring an additional 6,824 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $428.67 on Tuesday. The firm has a market cap of $425.82 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 2.92 and a beta of 1.01. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52-week low of $308.59 and a 52-week high of $430.25. The company’s 50 day moving average is $404.17 and its 200 day moving average is $369.82.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Activity at Home Depot

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

Analysts Set New Price Targets

Several brokerages recently issued reports on HD. Royal Bank of Canada lifted their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Sanford C. Bernstein began coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. Truist Financial raised their target price 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. Wells Fargo & Company increased their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Company 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.