M3 Advisory Group LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

M3 Advisory Group LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 698 shares of the home improvement retailer’s stock, valued at approximately $242,000.

Several other hedge funds also recently modified their holdings of HD. Glenview Trust co boosted its position in shares of Home Depot by 0.8% in the third quarter. Glenview Trust co now owns 42,962 shares of the home improvement retailer’s stock worth $12,981,000 after acquiring an additional 347 shares during the last quarter. Stokes Family Office LLC boosted its position in shares of Home Depot by 2.2% in the third quarter. Stokes Family Office LLC now owns 24,609 shares of the home improvement retailer’s stock worth $7,436,000 after acquiring an additional 533 shares during the last quarter. CI Investments Inc. boosted its position in shares of Home Depot by 6.2% in the third quarter. CI Investments Inc. now owns 85,262 shares of the home improvement retailer’s stock worth $25,763,000 after acquiring an additional 4,992 shares during the last quarter. CenterBook Partners LP boosted its position in shares of Home Depot by 36.1% in the third quarter. CenterBook Partners LP now owns 2,108 shares of the home improvement retailer’s stock worth $637,000 after acquiring an additional 559 shares during the last quarter. Finally, Rathbones Group PLC boosted its position in shares of Home Depot by 33.6% in the third quarter. Rathbones Group PLC now owns 535,268 shares of the home improvement retailer’s stock worth $161,737,000 after acquiring an additional 134,544 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HD shares. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. TD Cowen cut their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Bank of America raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. Wells Fargo & Company cut their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Finally, Mizuho assumed coverage on shares of Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.46.

Home Depot Stock Performance

Home Depot stock traded up $2.66 during mid-day trading on Monday, reaching $349.50. The company’s stock had a trading volume of 2,647,149 shares, compared to its average volume of 3,397,345. The firm has a market cap of $346.57 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 2.40 and a beta of 1.00. The business has a 50 day moving average price of $337.33 and a 200-day moving average price of $351.54. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates 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 revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.82 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

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.