WT Wealth Management Grows Position in The Home Depot, Inc. (NYSE:HD)

WT Wealth Management increased its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,579 shares of the home improvement retailer’s stock after purchasing an additional 651 shares during the period. WT Wealth Management’s holdings in Home Depot were worth $1,969,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sky Investment Group LLC boosted its position in Home Depot by 3.4% in the 1st quarter. Sky Investment Group LLC now owns 21,198 shares of the home improvement retailer’s stock valued at $6,345,000 after buying an additional 703 shares during the period. Everhart Financial Group Inc. boosted its position in Home Depot by 28.5% in the 1st quarter. Everhart Financial Group Inc. now owns 2,062 shares of the home improvement retailer’s stock valued at $617,000 after buying an additional 457 shares during the period. Diversified LLC boosted its position in Home Depot by 1.5% in the 1st quarter. Diversified LLC now owns 3,257 shares of the home improvement retailer’s stock valued at $975,000 after buying an additional 47 shares during the period. Matisse Capital boosted its position in Home Depot by 3.9% in the 1st quarter. Matisse Capital now owns 2,664 shares of the home improvement retailer’s stock valued at $797,000 after buying an additional 100 shares during the period. Finally, Hexagon Capital Partners LLC boosted its position in Home Depot by 4.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,961 shares of the home improvement retailer’s stock valued at $1,186,000 after buying an additional 173 shares during the period. 70.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ann Marie Campbell sold 11,293 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total value of $3,252,722.79. Following the sale, the executive vice president now directly owns 51,175 shares of the company’s stock, valued at approximately $14,739,935.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Ann Marie Campbell sold 11,293 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total value of $3,252,722.79. Following the sale, the executive vice president now directly owns 51,175 shares of the company’s stock, valued at approximately $14,739,935.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hector A. Padilla sold 136 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total transaction of $39,335.28. Following the completion of the sale, the executive vice president now directly owns 11,230 shares in the company, valued at $3,248,052.90. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of several research reports. Citigroup boosted their price objective on shares of Home Depot from $327.00 to $348.00 in a research report on Friday, May 20th. Raymond James reduced their price target on shares of Home Depot from $350.00 to $340.00 and set an “outperform” rating for the company in a report on Wednesday, May 18th. Truist Financial reduced their price target on shares of Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a report on Wednesday, May 18th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Finally, Jefferies Financial Group reduced their price target on shares of Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $368.45.

Home Depot Trading Up 0.8 %

Shares of Home Depot stock opened at $309.69 on Friday. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61. The firm has a market capitalization of $318.29 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.00 and a beta of 0.99. The firm’s 50 day simple moving average is $290.90 and its two-hundred day simple moving average is $310.73.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.42. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.60%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $36.78 billion. During the same quarter in the prior year, the business posted $3.86 EPS. Home Depot’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that The Home Depot, Inc. will post 16.43 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were issued a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Wednesday, June 1st. Home Depot’s dividend payout ratio (DPR) is currently 48.25%.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.