Addison Advisors LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Addison Advisors LLC increased its holdings in The Home Depot, Inc. (NYSE:HD) by 29.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,974 shares of the home improvement retailer’s stock after buying an additional 906 shares during the period. Addison Advisors LLC’s holdings in Home Depot were worth $1,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC grew its stake in Home Depot by 12,647.4% in the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the period. Jennison Associates LLC raised its stake in shares of Home Depot by 38.4% during the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Home Depot in the 3rd quarter worth about $207,210,000. Envestnet Asset Management Inc. grew its position in Home Depot by 20.6% during the third quarter. Envestnet Asset Management Inc. now owns 2,468,902 shares of the home improvement retailer’s stock valued at $746,003,000 after buying an additional 421,619 shares during the period. Finally, California Public Employees Retirement System grew its position in Home Depot by 11.3% during the third quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after buying an additional 346,641 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD traded up $3.11 during trading hours on Friday, reaching $335.09. 2,465,262 shares of the company’s stock traded hands, compared to its average volume of 3,779,238. 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 firm’s 50 day simple moving average is $364.77 and its 200-day simple moving average is $340.97. The stock has a market cap of $332.08 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) 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 analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 earnings per share. Equities analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s payout ratio is 59.60%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HD. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $325.00 to $372.00 in a report on Thursday, January 4th. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $311.00 to $400.00 in a research note on Tuesday, January 16th. Stifel Nicolaus lifted their price objective on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a report on Friday, February 16th. Citigroup upped their price objective on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Wedbush increased their target price on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insider Activity at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were 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 of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.