Procyon Advisors LLC Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Procyon Advisors LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,321 shares of the home improvement retailer’s stock after buying an additional 139 shares during the quarter. Home Depot accounts for about 1.0% of Procyon Advisors LLC’s portfolio, making the stock its 22nd largest holding. Procyon Advisors LLC’s holdings in Home Depot were worth $11,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Morgan Stanley boosted its position in shares of Home Depot by 10.0% during the 4th quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after acquiring an additional 1,698,402 shares during the last quarter. Northern Trust Corp boosted its holdings in Home Depot by 1.3% during the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after acquiring an additional 153,141 shares during the period. Norges Bank acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC lifted its holdings in Home Depot by 105,205.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after buying an additional 10,984,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Home Depot by 14.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after buying an additional 1,361,660 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.3 %

HD stock traded down $1.02 during mid-day trading on Thursday, hitting $384.87. The stock had a trading volume of 488,215 shares, compared to its average volume of 3,114,150. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a fifty day moving average of $367.86 and a 200 day moving average of $334.18. The stock has a market capitalization of $381.41 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.51 and a beta of 0.99. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same period in the prior year, the company earned $3.30 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts expect that The Home Depot, Inc. will post 15.39 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This is a boost 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 2.34%. Home Depot’s payout ratio is currently 59.60%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HD shares. The Goldman Sachs Group raised their price target on Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Royal Bank of Canada upped their target price on shares of Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a report on Monday, February 26th. Guggenheim boosted their price target on Home Depot from $370.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Truist Financial lowered their target price on Home Depot from $387.00 to $386.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Finally, Citigroup increased their price target on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.76.

Insider Transactions at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated Thursday, February 22nd. The shares were 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 approximately $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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.