Sheets Smith Wealth Management Purchases 481 Shares of The Home Depot, Inc. (NYSE:HD)

Sheets Smith Wealth Management lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,181 shares of the home improvement retailer’s stock after purchasing an additional 481 shares during the period. Sheets Smith Wealth Management’s holdings in Home Depot were worth $5,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter valued at approximately $41,000. Sugar Maple Asset Management LLC bought a new position in Home Depot during the 4th quarter worth $41,000. Livelsberger Financial Advisory acquired a new position in Home Depot in the 3rd quarter valued at $46,000. Strategic Investment Solutions Inc. IL acquired a new position in Home Depot in the 2nd quarter valued at $47,000. Finally, Quarry LP lifted its position in shares of Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after acquiring an additional 36 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Bank of America raised their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Evercore ISI lifted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

Home Depot stock opened at $414.46 on Friday. The stock’s 50 day moving average is $406.83 and its 200 day moving average is $389.47. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market cap of $411.71 billion, a P/E ratio of 28.16, a P/E/G ratio of 4.41 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the company earned $3.81 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s payout ratio is currently 61.14%.

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.