Rice Partnership LLC Acquires 585 Shares of The Home Depot, Inc. (NYSE:HD)

Rice Partnership LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,870 shares of the home improvement retailer’s stock after buying an additional 585 shares during the period. Home Depot comprises 1.6% of Rice Partnership LLC’s portfolio, making the stock its 23rd largest holding. Rice Partnership LLC’s holdings in Home Depot were worth $7,649,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Management Partners LLC lifted its stake in shares of Home Depot by 0.6% in the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after buying an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV raised its holdings in shares of Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after purchasing an additional 221 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $409,000. ARS Wealth Advisors Group LLC raised its holdings in shares of Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after purchasing an additional 239 shares during the last quarter. Finally, JPL Wealth Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $3,193,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $371.36 on Friday. The firm has a fifty day moving average price of $365.14 and a 200-day moving average price of $376.21. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The stock has a market cap of $369.47 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned $3.63 earnings per share. Equities analysts anticipate 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 disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insiders Place Their Bets

In related 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 owned 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HD shares. Robert W. Baird decreased their price objective on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Truist Financial boosted their price objective on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $415.00 price objective (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Seven investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $426.77.

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.