Harvest Fund Management Co. Ltd Raises Stake in The Home Depot, Inc. (NYSE:HD)

Harvest Fund Management Co. Ltd raised its stake in The Home Depot, Inc. (NYSE:HD) by 38.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,339 shares of the home improvement retailer’s stock after buying an additional 1,745 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Home Depot were worth $2,196,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HD. Keener Financial Planning LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $31,000. PFG Private Wealth Management LLC lifted its stake in Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 32 shares in the last quarter. Gilfoyle & Co LLC acquired a new position in Home Depot during the 4th quarter worth about $35,000. Briaud Financial Planning Inc acquired a new position in Home Depot during the 3rd quarter worth about $41,000. Finally, Quantbot Technologies LP acquired a new position in Home Depot during the 3rd quarter worth about $64,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 1.8 %

HD stock traded down $5.99 during trading on Wednesday, reaching $333.01. 3,847,767 shares of the stock traded hands, compared to its average volume of 3,358,391. The business’s 50 day moving average price is $366.40 and its 200-day moving average price is $340.51. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week 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 firm has a market capitalization of $330.02 billion, a PE ratio of 22.06, a P/E/G ratio of 2.24 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the previous year, the business earned $3.30 earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current 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 an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. Home Depot’s dividend payout ratio is presently 59.60%.

Wall Street Analyst Weigh In

HD has been the topic of several research reports. Guggenheim reissued a “buy” rating and set a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. Royal Bank of Canada increased their price target on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. Wells Fargo & Company increased their price target on Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. HSBC reiterated a “reduce” rating and issued a $323.00 price objective on shares of Home Depot in a report on Wednesday, April 3rd. Finally, Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $375.96.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction 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 completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Company 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.