Sollinda Capital Management LLC Makes New $268,000 Investment in The Home Depot, Inc. (NYSE:HD)

Sollinda Capital Management LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 698 shares of the home improvement retailer’s stock, valued at approximately $268,000.

Several other institutional investors also recently bought and sold shares of HD. Donaldson Capital Management LLC raised its stake in Home Depot by 0.3% during the first quarter. Donaldson Capital Management LLC now owns 196,473 shares of the home improvement retailer’s stock valued at $75,367,000 after purchasing an additional 506 shares in the last quarter. Raymond James & Associates raised its position in shares of Home Depot by 2.1% during the 1st quarter. Raymond James & Associates now owns 3,536,792 shares of the home improvement retailer’s stock valued at $1,356,714,000 after buying an additional 71,367 shares in the last quarter. Waycross Investment Management Co lifted its holdings in shares of Home Depot by 5.0% in the 1st quarter. Waycross Investment Management Co now owns 4,175 shares of the home improvement retailer’s stock valued at $1,602,000 after acquiring an additional 200 shares during the last quarter. Signature Wealth Management Group lifted its holdings in shares of Home Depot by 5.0% in the 1st quarter. Signature Wealth Management Group now owns 13,768 shares of the home improvement retailer’s stock valued at $5,281,000 after acquiring an additional 657 shares during the last quarter. Finally, Accordant Advisory Group Inc purchased a new position in Home Depot in the first quarter worth about $858,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Barclays upgraded 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. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. DA Davidson reiterated a “neutral” rating and issued a $370.00 price target on shares of Home Depot in a research note on Monday, April 1st. Finally, StockNews.com upgraded Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $375.96.

Home Depot Stock Performance

HD stock traded up $3.11 during trading on Friday, hitting $335.09. 2,465,262 shares of the company traded hands, compared to its average volume of 3,779,238. 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 Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The stock’s 50-day simple moving average is $364.77 and its 200 day simple moving average is $340.68. The company has a market cap of $332.08 billion, a PE ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 0.98.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the previous year, the company earned $3.30 earnings per share. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

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

Insider Transactions at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’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 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was 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 $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value 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 $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.