The Home Depot, Inc. (NYSE:HD) Stock Position Raised by Blue Chip Partners LLC

Blue Chip Partners LLC lifted its stake in The Home Depot, Inc. (NYSE:HD) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 71,440 shares of the home improvement retailer’s stock after acquiring an additional 981 shares during the quarter. Home Depot accounts for 2.6% of Blue Chip Partners LLC’s holdings, making the stock its 12th largest position. Blue Chip Partners LLC’s holdings in Home Depot were worth $24,758,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Keener Financial Planning LLC bought a new position in shares of Home Depot in the 4th quarter valued at approximately $31,000. PFG Private Wealth Management LLC raised its stake in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares in the last quarter. Gilfoyle & Co LLC bought a new position in shares of Home Depot in the 4th quarter valued at approximately $35,000. Briaud Financial Planning Inc bought a new position in shares of Home Depot in the 3rd quarter valued at approximately $41,000. Finally, Quantbot Technologies LP bought a new position in shares of Home Depot in the 3rd quarter valued at approximately $64,000. 70.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent analyst reports. Evercore ISI cut their price objective on Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 16th. TD Cowen raised their target price on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Stifel Nicolaus raised their target price on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and raised their target price for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $375.96.

Insider Buying and Selling at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock traded up $3.11 during midday trading on Friday, hitting $335.09. 2,465,262 shares of the company were exchanged, compared to its average volume of 3,779,238. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The firm has a market cap of $332.08 billion, a P/E ratio of 22.19, a PEG ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The firm has a 50 day simple moving average of $364.77 and a 200-day simple moving average of $341.27.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the previous year, the company posted $3.30 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. Research analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s payout ratio is presently 59.60%.

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.