MeadowBrook Investment Advisors LLC Purchases New Position in The Home Depot, Inc. (NYSE:HD)

MeadowBrook Investment Advisors LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,527 shares of the home improvement retailer’s stock, valued at approximately $1,222,000. Home Depot makes up approximately 1.2% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 24th biggest position.

Several other institutional investors have also modified their holdings of HD. Northern Trust Corp increased its stake in shares of Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after acquiring an additional 153,141 shares during the period. Fisher Asset Management LLC boosted its position in Home Depot by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after purchasing an additional 195,670 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the last quarter. Jennison Associates LLC increased its position in shares of Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after buying an additional 1,207,388 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in Home Depot by 11.3% in the 3rd quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after acquiring an additional 346,641 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock traded down $0.36 on Tuesday, hitting $341.93. The company had a trading volume of 814,523 shares, compared to its average volume of 3,319,463. The company has a market cap of $338.86 billion, a PE ratio of 22.71, a PEG ratio of 2.28 and a beta of 1.01. 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 52 week low of $274.26 and a 52 week high of $396.87. The business has a 50-day simple moving average of $361.16 and a 200-day simple moving average of $343.16.

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, topping the consensus estimate 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 business had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same period last year, the company posted $3.30 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. Research analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio is presently 59.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HD shares. Evercore ISI cut their target price on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Truist Financial reissued a “buy” rating and set a $417.00 price target on shares of Home Depot in a research report on Wednesday, April 17th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Bank of America lifted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Stifel Nicolaus upped their target price on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $375.96.

Insider Activity

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’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 owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated 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 owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Company Profile

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.