Dakota Wealth Management Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Dakota Wealth Management increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 34.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 49,348 shares of the home improvement retailer’s stock after buying an additional 12,776 shares during the quarter. Dakota Wealth Management’s holdings in Home Depot were worth $17,102,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock worth $5,918,425,000 after buying an additional 1,698,402 shares during the last quarter. Northern Trust Corp increased its holdings in Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after buying an additional 153,141 shares during the last quarter. Norges Bank purchased a new stake in Home Depot during the fourth quarter worth about $3,740,875,000. Moneta Group Investment Advisors LLC increased its holdings in Home Depot by 105,205.6% during the fourth 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after buying an additional 1,361,660 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.4 %

Shares of Home Depot stock opened at $337.93 on Tuesday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The firm has a market cap of $334.90 billion, a PE ratio of 22.38, a PEG ratio of 2.28 and a beta of 0.98. 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 company has a 50 day simple moving average of $369.56 and a two-hundred day simple moving average of $338.82.

Home Depot (NYSE:HD) last announced its earnings results 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 net margin of 9.92% and a return on equity of 1,339.65%. The business had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same period in the previous year, the business posted $3.30 earnings per share. Home Depot’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.37 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. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.66%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s payout ratio is presently 59.60%.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HD shares. Truist Financial raised their price objective on shares of Home Depot from $386.00 to $417.00 and gave the stock a “buy” rating in a report on Monday, April 1st. HSBC reiterated a “reduce” rating and issued a $323.00 target price on shares of Home Depot in a research note on Wednesday, April 3rd. TD Cowen lifted their target price on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Citigroup lifted their target price on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company lifted their target price on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $376.35.

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.