Berkshire Asset Management LLC PA Has $3.72 Million Stake in The Home Depot, Inc. $HD

Berkshire Asset Management LLC PA boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 4.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,205 shares of the home improvement retailer’s stock after purchasing an additional 456 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Home Depot were worth $3,717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot during the 1st quarter valued at approximately $406,000. Wealth Management Partners LLC grew its holdings in shares of Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after purchasing an additional 36 shares during the last quarter. Arbor Capital Management Inc. ADV grew its holdings in shares of Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after purchasing an additional 221 shares during the last quarter. ARS Wealth Advisors Group LLC grew its holdings in shares of Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after purchasing an additional 239 shares during the last quarter. Finally, Tabor Asset Management LP bought a new stake in shares of Home Depot during the 1st quarter valued at approximately $5,886,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 1.2%

Home Depot stock opened at $394.68 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The firm’s fifty day moving average is $371.05 and its 200 day moving average is $371.19. The company has a market capitalization of $392.68 billion, a PE ratio of 26.78, a PEG ratio of 3.80 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the firm earned $3.63 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is presently 62.42%.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HD shares. Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. TD Securities lowered shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. Gordon Haskett boosted their target price on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Truist Financial reissued a “buy” rating and set a $433.00 target price (up from $417.00) on shares of Home Depot in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada reduced their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.76.

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.