Oak Asset Management LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Oak Asset Management LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 9,632 shares of the home improvement retailer’s stock after purchasing an additional 75 shares during the quarter. Home Depot makes up about 1.3% of Oak Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Oak Asset Management LLC’s holdings in Home Depot were worth $3,530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. POM Investment Strategies LLC grew its position in Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. boosted its position in Home Depot by 0.5% during the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares during the period. Live Oak Private Wealth LLC boosted its position in Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares during the period. Mezzasalma Advisors LLC grew its stake in shares of Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after purchasing an additional 25 shares in the last quarter. Finally, Focused Wealth Management Inc increased its holdings in shares of Home Depot by 2.4% during the fourth quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer’s stock valued at $421,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

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

Home Depot Trading Down 0.2%

NYSE:HD opened at $372.50 on Thursday. 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 Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The stock’s 50-day moving average is $361.54 and its two-hundred day moving average is $385.28. The stock has a market cap of $370.61 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

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

Home Depot Dividend Announcement

The company also recently declared 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. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent analyst reports. Truist Financial increased their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Jefferies Financial Group decreased their price objective on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Guggenheim reissued a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a research note on Monday. Finally, Robert W. Baird dropped their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot 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.