Grimes & Company Inc. Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Grimes & Company Inc. grew its position in The Home Depot, Inc. (NYSE:HD) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,590 shares of the home improvement retailer’s stock after purchasing an additional 187 shares during the period. Grimes & Company Inc.’s holdings in Home Depot were worth $2,563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HD. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at about $41,000. Sugar Maple Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 3rd quarter valued at $46,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Home Depot in the 2nd quarter valued at $47,000. Finally, Quarry LP raised its stake in shares of Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after acquiring an additional 36 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HD has been the subject of a number of recent research reports. TD Cowen increased their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company increased their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Sanford C. Bernstein started coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, 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 research note on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

NYSE HD opened at $414.53 on Monday. The company has a 50-day moving average price of $407.14 and a two-hundred day moving average price of $390.53. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market cap of $411.77 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.81 EPS. Analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. Home Depot’s payout ratio is 61.14%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by corporate insiders.

About Home Depot

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.