Parsons Capital Management Inc. RI Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Parsons Capital Management Inc. RI grew its stake in The Home Depot, Inc. (NYSE:HD) by 14.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 52,597 shares of the home improvement retailer’s stock after acquiring an additional 6,511 shares during the period. Home Depot comprises 1.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 16th biggest holding. Parsons Capital Management Inc. RI’s holdings in Home Depot were worth $20,460,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter valued at $41,000. Sugar Maple Asset Management LLC acquired a new position in Home Depot in the 4th quarter valued at about $41,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the third quarter worth about $46,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Home Depot in the second quarter valued at approximately $47,000. Finally, Quarry LP increased its stake in Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. Guggenheim boosted their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Truist Financial boosted their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Wednesday, October 2nd. Mizuho raised their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays boosted their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last ninety days. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

NYSE:HD opened at $413.46 on Thursday. The firm has a market cap of $410.72 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm’s fifty day moving average price is $407.66 and its 200 day moving average price is $391.78.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.81 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.18%. Home Depot’s payout ratio is currently 61.14%.

About Home Depot

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.