The Home Depot, Inc. (NYSE:HD) Shares Bought by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,006 shares of the home improvement retailer’s stock after buying an additional 177 shares during the period. Sovereign Financial Group Inc.’s holdings in Home Depot were worth $1,042,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bare Financial Services Inc purchased a new stake in Home Depot during the 4th quarter worth about $26,000. Keener Financial Planning LLC purchased a new stake in Home Depot during the 4th quarter worth about $31,000. PFG Private Wealth Management LLC increased its holdings in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares during the last quarter. Gilfoyle & Co LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $35,000. Finally, Briaud Financial Planning Inc purchased a new position in shares of Home Depot in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD traded down $1.86 during mid-day trading on Wednesday, reaching $338.83. 2,710,508 shares of the company’s stock were exchanged, compared to its average volume of 3,338,147. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The company has a 50-day simple moving average of $360.47 and a two-hundred day simple moving average of $343.54. The company has a market cap of $335.79 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.28 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter last year, the business posted $3.30 EPS. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a yield of 2.66%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HD shares. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. DA Davidson reiterated a “neutral” rating and issued a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. Stifel Nicolaus upped their target price on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $375.19.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was 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 of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the 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 transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

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.