Access Financial Services Inc. Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Access Financial Services Inc. boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,875 shares of the home improvement retailer’s stock after purchasing an additional 74 shares during the period. Access Financial Services Inc.’s holdings in Home Depot were worth $650,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HD. VisionPoint Advisory Group LLC purchased a new position in Home Depot during the 2nd quarter valued at about $26,000. Fairfield Bush & CO. purchased a new position in shares of Home Depot during the 1st quarter worth approximately $27,000. KB Financial Partners LLC purchased a new position in shares of Home Depot during the 1st quarter worth approximately $28,000. Studio Investment Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Home Depot during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $383.57 on Friday. The stock has a market capitalization of $380.13 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 2.55 and a beta of 0.99. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock’s 50 day simple moving average is $368.47 and its 200 day simple moving average is $334.54.

Home Depot (NYSE:HD) last released 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. The business had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.30 EPS. As a group, research analysts forecast that The Home Depot, Inc. will post 15.39 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.35%. Home Depot’s dividend payout ratio is 59.60%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on Home Depot from $387.00 to $386.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Wells Fargo & Company upped their target price on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Royal Bank of Canada upped their target price on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. Finally, Telsey Advisory Group upped their target price on Home Depot from $325.00 to $335.00 and gave the stock a “market perform” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $368.76.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The stock was 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 directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the 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 transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.