Beacon Financial Group Grows Position in The Home Depot, Inc. (NYSE:HD)

by · The Cerbat Gem

Beacon Financial Group grew its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,162 shares of the home improvement retailer’s stock after purchasing an additional 31 shares during the quarter. Beacon Financial Group’s holdings in Home Depot were worth $1,892,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HD. Vanguard Group Inc. raised its position in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC increased its stake in shares of Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank acquired a new position in Home Depot in the 4th quarter worth about $5,032,910,000. Capital Research Global Investors raised its holdings in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the period. Finally, Northern Trust Corp boosted its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HD has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Gordon Haskett boosted their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a report on Monday. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, DA Davidson reduced their price target on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Check Out Our Latest Report on Home Depot

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm’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 transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at $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. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

NYSE:HD opened at $372.50 on Thursday. The company’s 50-day moving average is $361.54 and its two-hundred day moving average is $385.28. The Home Depot, Inc. has a 1-year low of $323.93 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $370.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD – Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.63 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.47%. Home Depot’s payout ratio is currently 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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