Goldstone Financial Group LLC Buys 704 Shares of The Home Depot, Inc. (NYSE:HD)

Goldstone Financial Group LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 39.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,484 shares of the home improvement retailer’s stock after acquiring an additional 704 shares during the period. Goldstone Financial Group LLC’s holdings in Home Depot were worth $911,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Home Depot during the fourth quarter valued at approximately $5,032,910,000. GAMMA Investing LLC boosted its stake in shares of Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Home Depot during the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC boosted its stake in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 2.5%

NYSE HD opened at $354.10 on Friday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market capitalization of $352.31 billion, a PE ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a fifty day moving average of $362.73 and a 200 day moving average of $382.81.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the firm earned $3.63 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s payout ratio is 62.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler decreased their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday, March 24th. Wedbush reissued an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Sanford C. Bernstein reissued a “market perform” rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now owns 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.