Unique Wealth Strategies LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Unique Wealth Strategies LLC bought a new position in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,528 shares of the home improvement retailer’s stock, valued at approximately $876,000.

A number of other institutional investors and hedge funds also recently modified their holdings of HD. International Assets Investment Management LLC boosted its holdings in shares of Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock worth $1,930,104,000 after buying an additional 5,525,791 shares during the period. Jennison Associates LLC boosted its stake in Home Depot by 38.4% in the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Home Depot during the 3rd quarter worth approximately $207,210,000. Envestnet Asset Management Inc. raised its stake in Home Depot by 20.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,468,902 shares of the home improvement retailer’s stock valued at $746,003,000 after purchasing an additional 421,619 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Home Depot by 11.3% in the third quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after purchasing an additional 346,641 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HD. StockNews.com raised Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday. The Goldman Sachs Group increased their price target on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada lifted their target price on shares of Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Stock Performance

Shares of NYSE HD traded up $3.11 during trading hours on Friday, hitting $335.09. 2,465,262 shares of the stock were exchanged, compared to its average volume of 3,779,238. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company’s 50 day moving average is $364.77 and its 200 day moving average is $340.68. 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 capitalization of $332.08 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 0.98.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.30 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Home Depot’s payout ratio is 59.60%.

Insider Activity

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

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.