Merit Financial Group LLC Increases Stock Position in The Home Depot, Inc. $HD

Merit Financial Group LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,729 shares of the home improvement retailer’s stock after buying an additional 3,277 shares during the period. Merit Financial Group LLC’s holdings in Home Depot were worth $31,495,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Sagard Holdings Management Inc. bought a new position in shares of Home Depot during the second quarter valued at approximately $29,000. Financially Speaking Inc bought a new stake in shares of Home Depot in the 3rd quarter worth approximately $31,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the 2nd quarter valued at approximately $35,000. Finally, Dougherty Wealth Advisers LLC purchased a new position in Home Depot during the third quarter valued at $38,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.2%

HD opened at $391.03 on Tuesday. The stock has a market capitalization of $389.27 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 13.97 and a beta of 1.08. The firm has a 50 day moving average price of $366.99 and a 200-day moving average price of $380.21. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $426.75. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The company had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $3.78 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot’s payout ratio is presently 62.71%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 2,872 shares of the company’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the completion of the sale, the executive vice president owned 13,196 shares of the company’s stock, valued at $4,599,069.92. This represents a 17.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Angie Brown sold 1,946 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the transaction, the executive vice president directly owned 3,941 shares in the company, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,963 shares of company stock worth $1,748,845. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup increased their target price on Home Depot from $407.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday. Wolfe Research cut their price objective on shares of Home Depot from $415.00 to $414.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. HSBC decreased their target price on shares of Home Depot from $445.00 to $400.00 and set a “hold” rating for the company in a report on Wednesday, November 19th. Daiwa Securities Group increased their price target on shares of Home Depot from $348.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen downgraded shares of Home Depot from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Twenty-one analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $407.23.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.