SlateStone Wealth LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

SlateStone Wealth LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,907 shares of the home improvement retailer’s stock after purchasing an additional 2,245 shares during the period. Home Depot comprises approximately 1.0% of SlateStone Wealth LLC’s investment portfolio, making the stock its 25th largest holding. SlateStone Wealth LLC’s holdings in Home Depot were worth $7,592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. Demars Financial Group LLC lifted its stake in Home Depot by 9.5% in the fourth quarter. Demars Financial Group LLC now owns 1,747 shares of the home improvement retailer’s stock valued at $605,000 after purchasing an additional 151 shares during the last quarter. Stockman Wealth Management Inc. raised its stake in shares of Home Depot by 1.1% in the fourth quarter. Stockman Wealth Management Inc. now owns 19,275 shares of the home improvement retailer’s stock valued at $6,680,000 after buying an additional 203 shares during the period. Gimbal Financial purchased a new position in shares of Home Depot during the 4th quarter valued at $400,000. Garrison Asset Management LLC grew its stake in shares of Home Depot by 26.2% during the 4th quarter. Garrison Asset Management LLC now owns 1,917 shares of the home improvement retailer’s stock worth $664,000 after acquiring an additional 398 shares during the period. Finally, RWA Wealth Partners LLC increased its holdings in Home Depot by 125.9% in the 4th quarter. RWA Wealth Partners LLC now owns 112,341 shares of the home improvement retailer’s stock worth $38,932,000 after acquiring an additional 62,619 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

NYSE HD traded up $3.49 on Tuesday, reaching $339.60. 1,716,503 shares of the company’s stock traded hands, compared to its average volume of 3,326,118. The stock has a market cap of $336.55 billion, a PE ratio of 22.33, a P/E/G ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock has a 50-day simple moving average of $366.77 and a 200 day simple moving average of $340.19. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.30 EPS. 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 disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.65%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is currently 59.60%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Telsey Advisory Group increased their target price on shares of Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a research report on Monday, April 1st. Truist Financial reaffirmed a “buy” rating and issued a $417.00 price objective on shares of Home Depot in a report on Wednesday, April 17th. DA Davidson restated a “neutral” rating and issued a $370.00 target price on shares of Home Depot in a research note on Monday, April 1st. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $370.00 target price on shares of Home Depot in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $375.96.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the 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 completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. 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.