Gilliland Jeter Wealth Management LLC Invests $814,000 in The Home Depot, Inc. (NYSE:HD)

Gilliland Jeter Wealth Management LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,348 shares of the home improvement retailer’s stock, valued at approximately $814,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Place Capital Corp boosted its holdings in Home Depot by 2.1% during the 3rd quarter. Park Place Capital Corp now owns 4,778 shares of the home improvement retailer’s stock valued at $1,444,000 after acquiring an additional 96 shares during the period. BTC Capital Management Inc. boosted its holdings in Home Depot by 5.6% during the 3rd quarter. BTC Capital Management Inc. now owns 16,852 shares of the home improvement retailer’s stock valued at $5,092,000 after acquiring an additional 894 shares during the period. Bellecapital International Ltd. boosted its holdings in Home Depot by 4.2% during the 3rd quarter. Bellecapital International Ltd. now owns 1,140 shares of the home improvement retailer’s stock valued at $344,000 after acquiring an additional 46 shares during the period. Avior Wealth Management LLC boosted its holdings in Home Depot by 1.7% during the 3rd quarter. Avior Wealth Management LLC now owns 17,201 shares of the home improvement retailer’s stock valued at $5,198,000 after acquiring an additional 295 shares during the period. Finally, Founders Financial Securities LLC boosted its holdings in Home Depot by 7.9% during the 3rd quarter. Founders Financial Securities LLC now owns 5,938 shares of the home improvement retailer’s stock valued at $1,794,000 after acquiring an additional 433 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Oppenheimer lowered Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Mizuho began coverage on Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price target for the company. HSBC reaffirmed a “reduce” rating and set a $323.00 price target on shares of Home Depot in a research report on Wednesday, April 3rd. Finally, Bank of America upped their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Stock Up 0.9 %

HD stock traded up $3.11 on Friday, reaching $335.09. 2,465,262 shares of the company traded hands, 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 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 market cap of $332.08 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The firm has a fifty day simple moving average of $364.77 and a 200-day simple moving average of $340.97.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $34.64 billion. During the same period last year, the business posted $3.30 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

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

Insider Transactions at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the firm’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 transaction, 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 document filed with the SEC, which is accessible through this link. In related news, 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 transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot 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 owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.10% 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.