Merit Financial Group LLC Acquires 3,277 Shares of The Home Depot, Inc. $HD

Merit Financial Group LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 4.4% during the third quarter, Holdings Channel.com reports. The firm owned 77,729 shares of the home improvement retailer’s stock after purchasing an additional 3,277 shares during the quarter. Merit Financial Group LLC’s holdings in Home Depot were worth $31,495,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Home Depot in the second quarter worth about $4,885,603,000. Laurel Wealth Advisors LLC increased its holdings in Home Depot by 36,207.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 10,076,783 shares of the home improvement retailer’s stock worth $3,694,552,000 after acquiring an additional 10,049,029 shares in the last quarter. Vanguard Group Inc. raised its stake in Home Depot by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 97,978,814 shares of the home improvement retailer’s stock worth $35,922,952,000 after acquiring an additional 1,494,615 shares during the period. Amundi raised its stake in Home Depot by 11.1% during the 2nd quarter. Amundi now owns 7,903,550 shares of the home improvement retailer’s stock worth $2,938,935,000 after acquiring an additional 790,476 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in Home Depot by 112.3% during the third quarter. Voya Investment Management LLC now owns 1,444,128 shares of the home improvement retailer’s stock valued at $585,147,000 after purchasing an additional 763,739 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 0.2%

Shares of Home Depot stock opened at $391.03 on Tuesday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $426.75. The company has a quick ratio of 0.29, a current ratio of 1.05 and a debt-to-equity ratio of 3.82. The business has a 50-day moving average price of $366.99 and a 200-day moving average price of $380.21. The firm has a market cap of $389.27 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 13.97 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The firm had revenue of $41.35 billion during the quarter, compared to analysts’ expectations of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.Home Depot’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.78 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, December 4th. Home Depot’s dividend payout ratio is 62.71%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Home Depot from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Home Depot from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Guggenheim decreased their price target on Home Depot from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Royal Bank Of Canada lowered their price objective on Home Depot from $376.00 to $366.00 and set a “sector perform” rating on the stock in a research report on Wednesday, December 10th. Finally, Gordon Haskett increased their target price on Home Depot from $330.00 to $370.00 and gave the stock a “hold” rating in a research report on Wednesday, February 11th. Twenty-one research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $407.23.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 2,872 shares of the company’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the sale, the executive vice president owned 13,196 shares of the company’s stock, valued at $4,599,069.92. This represents a 17.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Angie Brown sold 1,946 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $357.63, for a total transaction of $695,947.98. Following the transaction, the executive vice president owned 3,941 shares of the company’s stock, valued at $1,409,419.83. This trade represents a 33.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,963 shares of company stock worth $1,748,845. 0.10% of the stock is currently owned by insiders.

Home Depot Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.