Retirement Solution Inc. Buys New Shares in The Home Depot, Inc. (NYSE:HD)

Retirement Solution Inc. bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 678 shares of the home improvement retailer’s stock, valued at approximately $235,000.

Other institutional investors also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. increased its stake in Home Depot by 4.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,145 shares of the home improvement retailer’s stock valued at $7,674,000 after purchasing an additional 918 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in Home Depot by 1.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 75,218 shares of the home improvement retailer’s stock valued at $26,067,000 after purchasing an additional 1,140 shares in the last quarter. Wynn Capital LLC bought a new stake in Home Depot during the 4th quarter valued at $243,000. Hartline Investment Corp increased its stake in Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after purchasing an additional 460 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in Home Depot by 38.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 6,339 shares of the home improvement retailer’s stock valued at $2,196,000 after purchasing an additional 1,745 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $311.00 to $400.00 in a research note on Tuesday, January 16th. Truist Financial reiterated a “buy” rating and issued a $417.00 target price on shares of Home Depot in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday. Guggenheim reiterated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. Finally, Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $325.00 to $372.00 in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Buying and Selling

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated 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 of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 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 owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Price Performance

NYSE HD traded down $6.11 on Wednesday, reaching $332.89. 4,027,485 shares of the company’s stock traded hands, compared to its average volume of 3,358,525. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The stock has a 50-day simple moving average of $365.90 and a 200 day simple moving average of $340.46. The stock has a market cap of $329.90 billion, a PE ratio of 22.05, a P/E/G ratio of 2.24 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion for 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 was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $3.30 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. 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. Home Depot’s payout ratio is currently 59.60%.

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.