Successful Portfolios LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Successful Portfolios LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,337 shares of the home improvement retailer’s stock after purchasing an additional 146 shares during the quarter. Home Depot makes up approximately 1.9% of Successful Portfolios LLC’s portfolio, making the stock its 11th biggest holding. Successful Portfolios LLC’s holdings in Home Depot were worth $2,543,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of HD. Norges Bank purchased a new stake in shares of Home Depot during the 4th quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Home Depot by 105,205.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after acquiring an additional 10,984,516 shares during the period. Comerica Bank purchased a new position in shares of Home Depot in the second quarter valued at $7,703,690,000. Imprint Wealth LLC boosted its stake in Home Depot by 30,994.4% in the 2nd quarter. Imprint Wealth LLC now owns 2,413,234 shares of the home improvement retailer’s stock worth $241,323,000 after purchasing an additional 2,405,473 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Home Depot during the 1st quarter valued at about $563,524,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and increased their target price for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Oppenheimer lowered Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Mizuho assumed coverage on Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 target price for the company. Finally, HSBC lowered shares of Home Depot from a “hold” rating to a “reduce” rating and set a $323.00 price objective for the company. in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $368.76.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock traded down $2.29 during mid-day trading on Thursday, reaching $383.60. 4,046,674 shares of the company’s stock traded hands, compared to its average volume of 3,149,935. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The firm has a 50 day moving average price of $368.47 and a two-hundred day moving average price of $334.54. The firm has a market capitalization of $380.16 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the previous year, the firm earned $3.30 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, research analysts forecast that The Home Depot, Inc. will post 15.39 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is 59.60%.

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.