River Street Advisors LLC Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

River Street Advisors LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,530 shares of the home improvement retailer’s stock after buying an additional 234 shares during the quarter. River Street Advisors LLC’s holdings in Home Depot were worth $1,354,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Algert Global LLC acquired a new stake in shares of Home Depot in the third quarter valued at approximately $245,000. Trexquant Investment LP lifted its stake in shares of Home Depot by 300.3% during the 3rd quarter. Trexquant Investment LP now owns 8,371 shares of the home improvement retailer’s stock worth $2,529,000 after purchasing an additional 6,280 shares during the period. SRS Capital Advisors Inc. boosted its stake in Home Depot by 62.6% in the 3rd quarter. SRS Capital Advisors Inc. now owns 1,421 shares of the home improvement retailer’s stock worth $429,000 after buying an additional 547 shares during the last quarter. AQR Capital Management LLC increased its position in Home Depot by 25.6% during the third quarter. AQR Capital Management LLC now owns 275,050 shares of the home improvement retailer’s stock worth $83,109,000 after purchasing an additional 56,008 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its holdings in shares of Home Depot by 49.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 48,945 shares of the home improvement retailer’s stock worth $14,790,000 after buying an additional 16,089 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD traded up $2.75 during midday trading on Friday, hitting $344.24. The company’s stock had a trading volume of 6,344,192 shares, compared to its average volume of 3,519,389. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm’s fifty day moving average price is $338.51 and its 200-day moving average price is $352.74. The firm has a market cap of $341.35 billion, a P/E ratio of 23.09, a P/E/G ratio of 2.38 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. Home Depot’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.82 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.61%. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HD shares. Guggenheim reissued a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. Truist Financial reduced their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. UBS Group lowered their price objective on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research note on Tuesday, May 14th. Finally, Bank of America upped their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $378.42.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

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.