Magnus Financial Group LLC Boosts Position in The Home Depot, Inc. (NYSE:HD)

Magnus Financial Group LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 14.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,846 shares of the home improvement retailer’s stock after acquiring an additional 849 shares during the period. Magnus Financial Group LLC’s holdings in Home Depot were worth $2,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fred Alger Management LLC grew its position in Home Depot by 5.5% during the 2nd quarter. Fred Alger Management LLC now owns 39,994 shares of the home improvement retailer’s stock worth $13,768,000 after purchasing an additional 2,079 shares during the last quarter. AQR Capital Management LLC increased its position in Home Depot by 92.4% during the 2nd quarter. AQR Capital Management LLC now owns 304,156 shares of the home improvement retailer’s stock worth $103,872,000 after purchasing an additional 146,106 shares during the period. Ameriprise Financial Inc. grew its holdings in Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after acquiring an additional 138,396 shares during the period. Dundas Partners LLP grew its stake in shares of Home Depot by 1.7% during the 2nd quarter. Dundas Partners LLP now owns 101,274 shares of the home improvement retailer’s stock worth $34,863,000 after purchasing an additional 1,663 shares during the period. Finally, Drucker Wealth 3.0 LLC purchased a new position in Home Depot in the second quarter valued at about $225,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HD shares. Truist Financial raised their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada lifted their price objective on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research report on Monday, November 11th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the company from $360.00 to $455.00 in a report on Friday, November 8th. TD Cowen lifted their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 1.1 %

NYSE:HD opened at $414.46 on Friday. The stock has a market cap of $411.71 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 4.41 and a beta of 1.05. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The business’s 50-day simple moving average is $406.83 and its 200 day simple moving average is $389.47.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the company posted $3.81 EPS. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Home Depot 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.