Procyon Advisors LLC Increases Stake in The Home Depot, Inc. (NYSE:HD)

Procyon Advisors LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 2.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,038 shares of the home improvement retailer’s stock after acquiring an additional 866 shares during the period. Home Depot makes up 0.8% of Procyon Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Procyon Advisors LLC’s holdings in Home Depot were worth $12,841,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Home Depot during the fourth quarter worth $5,032,910,000. GAMMA Investing LLC boosted its position in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Home Depot during the 4th quarter worth $2,212,546,000. Proficio Capital Partners LLC increased its holdings in shares of Home Depot by 21,394.9% in the 4th 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 lifted its stake in shares of Home Depot by 13.3% in 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 during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on HD shares. DA Davidson dropped their target price on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Finally, TD Securities lowered shares of Home Depot to a “buy” rating in a research report on Monday. Seven equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Trading Down 0.9%

Shares of HD opened at $368.97 on Friday. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The company has a market capitalization of $367.10 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The stock has a fifty day moving average of $361.58 and a two-hundred day moving average of $384.99. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its 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). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the company posted $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business 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. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’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 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. The trade was a 23.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.