Market Street Wealth Management Advisors LLC Makes New $219,000 Investment in The Home Depot, Inc. (NYSE:HD)

Market Street Wealth Management Advisors LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 632 shares of the home improvement retailer’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BCK Partners Inc. bought a new stake in shares of Home Depot in the first quarter valued at about $2,933,000. Fairfield Bush & CO. bought a new stake in shares of Home Depot in the first quarter valued at about $27,000. Ergoteles LLC bought a new stake in shares of Home Depot in the first quarter valued at about $1,554,000. Equitable Holdings Inc. lifted its holdings in shares of Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock valued at $4,379,000 after purchasing an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Home Depot by 3.2% in the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after purchasing an additional 24,640 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Home Depot stock opened at $337.93 on Tuesday. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock’s 50 day moving average is $369.56 and its 200-day moving average is $338.82. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The company has a market capitalization of $334.90 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 2.28 and a beta of 0.98.

Home Depot (NYSE:HD) last posted 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 1,339.65% and a net margin of 9.92%. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the prior year, the business earned $3.30 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is 59.60%.

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available at this link. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the company’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 sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada upped their target price on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Oppenheimer lowered Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Wells Fargo & Company upped their target price on Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday, February 13th. Citigroup upped their target price on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Robert W. Baird reiterated an “outperform” rating and set a $370.00 target price on shares of Home Depot in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.35.

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.