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

Keystone Wealth Services LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 32.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,398 shares of the home improvement retailer’s stock after buying an additional 594 shares during the quarter. Keystone Wealth Services LLC’s holdings in Home Depot were worth $826,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth approximately $4,311,070,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of Home Depot in the first quarter worth $513,016,000. Jennison Associates LLC raised its holdings in Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after acquiring an additional 1,207,388 shares in the last quarter. Capital Research Global Investors boosted its stake in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

HD stock traded up $0.30 during trading on Friday, hitting $348.64. The company had a trading volume of 2,314,771 shares, compared to its average volume of 3,403,096. The company has a fifty day moving average price of $348.16 and a two-hundred day moving average price of $353.18. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a market cap of $345.72 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.48 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analyst Weigh In

HD has been the subject of several research reports. Truist Financial decreased their target price on Home Depot from $406.00 to $396.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. UBS Group lowered their target price on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company decreased their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Stifel Nicolaus increased their price objective on shares of Home Depot from $374.00 to $380.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. Finally, Citigroup cut their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $384.00.

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.