New World Advisors LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

New World Advisors LLC boosted its position in The Home Depot, Inc. (NYSE:HD – Free Report) by 10.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,131 shares of the home improvement retailer’s stock after purchasing an additional 203 shares during the quarter. Home Depot makes up approximately 0.2% of New World Advisors LLC’s investment portfolio, making the stock its 19th largest holding. New World Advisors LLC’s holdings in Home Depot were worth $781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Group Ltd. raised its position in shares of Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after purchasing an additional 27 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after buying an additional 7,203 shares during the period. Snider Financial Group grew its holdings in shares of Home Depot by 90.7% during the fourth quarter. Snider Financial Group now owns 1,436 shares of the home improvement retailer’s stock valued at $559,000 after buying an additional 683 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock valued at $4,747,000 after acquiring an additional 565 shares during the period. Finally, FFT Wealth Management LLC lifted its position in Home Depot by 12.6% during the 4th quarter. FFT Wealth Management LLC now owns 785 shares of the home improvement retailer’s stock worth $305,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Royal Bank Of Canada dropped their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Check Out Our Latest Stock Analysis on HD

Home Depot Stock Performance

NYSE HD opened at $361.96 on Thursday. The stock has a fifty day simple moving average of $363.10 and a 200-day simple moving average of $378.66. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock has a market cap of $360.12 billion, a PE ratio of 24.56, a P/E/G ratio of 3.43 and a beta of 1.02. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD – Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period last year, the business earned $3.63 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.54%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insider Buying and Selling at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot 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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