Baker Ellis Asset Management LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Baker Ellis Asset Management LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 4,050 shares of the home improvement retailer’s stock after buying an additional 50 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Home Depot were worth $1,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $32,000. Quarry LP grew its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Sellwood Investment Partners LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD opened at $360.35 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 firm has a fifty day moving average price of $361.89 and a 200 day moving average price of $383.78. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The stock has a market cap of $358.52 billion, a P/E ratio of 24.48, a P/E/G ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its earnings results 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 firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

HD has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Telsey Advisory Group reissued an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Finally, Truist Financial boosted their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

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.