Ritholtz Wealth Management Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Ritholtz Wealth Management raised its position in The Home Depot, Inc. (NYSE:HD) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,695 shares of the home improvement retailer’s stock after acquiring an additional 922 shares during the quarter. Ritholtz Wealth Management’s holdings in Home Depot were worth $8,439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. lifted its position in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the period. Pensionfund Sabic boosted its stake in shares of Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB increased its position in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the period. Finally, Wedmont Private Capital raised its stake in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

Shares of HD opened at $409.42 on Friday. The firm has a fifty day simple moving average of $406.44 and a two-hundred day simple moving average of $386.94. The firm has a market cap of $406.70 billion, a PE ratio of 27.81, a P/E/G ratio of 4.11 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating 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%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.81 earnings per share. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Evercore ISI lifted their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Morgan Stanley upped their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. TD Cowen raised their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Royal Bank of Canada upped their target price on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Finally, Guggenheim increased their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

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.