Smead Capital Management Inc. Increases Stake in The Home Depot, Inc. (NYSE:HD)

Smead Capital Management Inc. lifted its stake in The Home Depot, Inc. (NYSE:HD) by 0.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 453,225 shares of the home improvement retailer’s stock after purchasing an additional 3,170 shares during the quarter. Home Depot comprises about 2.8% of Smead Capital Management Inc.’s portfolio, making the stock its 17th largest holding. Smead Capital Management Inc.’s holdings in Home Depot were worth $157,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fairfield Bush & CO. acquired a new position in Home Depot in the 1st quarter worth approximately $27,000. KB Financial Partners LLC acquired a new position in Home Depot in the 1st quarter worth approximately $28,000. Keener Financial Planning LLC acquired a new position in Home Depot in the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC grew its stake in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the period. Finally, Studio Investment Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $32,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on HD shares. Stifel Nicolaus lifted their price objective on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. The Goldman Sachs Group upped their target price on Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Mizuho assumed coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target on the stock. Finally, TD Cowen upped their price objective on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Trading Up 0.0 %

Shares of HD opened at $332.89 on Friday. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The firm has a market capitalization of $329.90 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.22 and a beta of 0.98. The firm has a 50-day moving average price of $367.92 and a 200 day moving average price of $338.97. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.30 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is 59.60%.

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Home Depot news, 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 transaction of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

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.