Latitude Advisors LLC Buys 187 Shares of The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

Latitude Advisors LLC lifted its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 7.5% during the 1st quarter, Holdings Channel reports. The firm owned 2,696 shares of the home improvement retailer’s stock after acquiring an additional 187 shares during the period. Latitude Advisors LLC’s holdings in Home Depot were worth $988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Group Ltd. raised its stake in shares of Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after acquiring an additional 27 shares during the period. Sollinda Capital Management LLC increased its holdings in Home Depot by 2.5% in the 4th quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer’s stock valued at $434,000 after purchasing an additional 27 shares during the last quarter. Hurlow Wealth Management Group Inc. increased its holdings in Home Depot by 1.3% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer’s stock valued at $831,000 after purchasing an additional 27 shares during the last quarter. Invst LLC raised its position in Home Depot by 0.4% in the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer’s stock valued at $2,621,000 after purchasing an additional 28 shares during the period. Finally, Financial Insights Inc. lifted its stake in Home Depot by 3.3% during the first quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock worth $323,000 after purchasing an additional 28 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president directly owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank Of Canada lowered their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Sanford C. Bernstein reiterated a “market perform” rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $426.77.

View Our Latest Stock Report on Home Depot

Home Depot Price Performance

HD stock opened at $372.05 on Thursday. The business has a 50 day moving average price of $364.63 and a 200 day moving average price of $376.86. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The stock has a market cap of $370.16 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.63 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Home Depot Company Profile

(Free Report)

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.

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