SlateStone Wealth LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

SlateStone Wealth LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 11.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,907 shares of the home improvement retailer’s stock after acquiring an additional 2,245 shares during the period. Home Depot accounts for 1.0% of SlateStone Wealth LLC’s holdings, making the stock its 25th biggest position. SlateStone Wealth LLC’s holdings in Home Depot were worth $7,592,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Demars Financial Group LLC increased its position in shares of Home Depot by 9.5% during the fourth quarter. Demars Financial Group LLC now owns 1,747 shares of the home improvement retailer’s stock worth $605,000 after purchasing an additional 151 shares in the last quarter. Stockman Wealth Management Inc. increased its position in Home Depot by 1.1% during the 4th quarter. Stockman Wealth Management Inc. now owns 19,275 shares of the home improvement retailer’s stock valued at $6,680,000 after buying an additional 203 shares in the last quarter. Gimbal Financial purchased a new stake in Home Depot in the fourth quarter valued at about $400,000. Garrison Asset Management LLC raised its stake in Home Depot by 26.2% in the fourth quarter. Garrison Asset Management LLC now owns 1,917 shares of the home improvement retailer’s stock valued at $664,000 after buying an additional 398 shares during the last quarter. Finally, RWA Wealth Partners LLC grew its stake in shares of Home Depot by 125.9% during the fourth quarter. RWA Wealth Partners LLC now owns 112,341 shares of the home improvement retailer’s stock worth $38,932,000 after acquiring an additional 62,619 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on HD. Wells Fargo & Company increased their price objective on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Evercore ISI cut their target price on Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Finally, The Goldman Sachs Group lifted their price target on Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Price Performance

NYSE HD traded up $3.49 during trading hours on Tuesday, reaching $339.60. The company’s stock had a trading volume of 1,716,503 shares, compared to its average volume of 3,326,118. The firm has a market capitalization of $336.55 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.23 and a beta of 0.98. The company’s 50-day moving average is $366.77 and its two-hundred day moving average is $340.19. 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 Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping 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 business had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same period in the prior year, the company posted $3.30 EPS. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This is a positive change 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 dividend yield of 2.65%. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Insider Transactions at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot 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 sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related 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 value of $13,265,887.81. Following the completion of 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 filing with the SEC, which can be accessed 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 directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.