Edge Financial Advisors LLC Makes New $249,000 Investment in The Home Depot, Inc. (NYSE:HD)

Edge Financial Advisors LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) during the first quarter, Holdings Channel.com reports. The firm acquired 648 shares of the home improvement retailer’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bare Financial Services Inc acquired a new stake in shares of Home Depot in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $27,000. Keener Financial Planning LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $31,000. PFG Private Wealth Management LLC increased its stake in shares of Home Depot by 53.3% in the fourth 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 during the period. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $35,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD traded up $2.04 during midday trading on Friday, hitting $335.68. The company’s stock had a trading volume of 728,193 shares, compared to its average volume of 3,421,091. The business’s 50 day simple moving average is $338.48 and its 200 day simple moving average is $352.30. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The company has a market cap of $332.86 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.98. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. The firm had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $3.82 earnings per share. On average, analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

HD has been the topic of a number of research reports. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Wedbush restated an “outperform” rating and set a $410.00 price target on shares of Home Depot in a research report on Friday, May 10th. Bank of America raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Wells Fargo & Company dropped their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Finally, Truist Financial dropped their price target on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $378.42.

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.