Procyon Advisors LLC Has $13.29 Million Stake in The Home Depot, Inc. (NYSE:HD)

Procyon Advisors LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 34,172 shares of the home improvement retailer’s stock after buying an additional 937 shares during the quarter. Procyon Advisors LLC’s holdings in Home Depot were worth $13,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the 3rd quarter valued at $41,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 3rd quarter worth about $46,000. Strategic Investment Solutions Inc. IL acquired a new position in Home Depot during the second quarter valued at approximately $47,000. Quarry LP raised its holdings in Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares during the period. Finally, Semmax Financial Advisors Inc. increased its stake in shares of Home Depot by 111.3% in the second quarter. Semmax Financial Advisors Inc. now owns 150 shares of the home improvement retailer’s stock worth $53,000 after purchasing an additional 79 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America upped their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. Piper Sandler raised their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Truist Financial boosted their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 over the last ninety days. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $409.42 on Friday. The stock has a market capitalization of $406.70 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 4.11 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. The company has a 50 day moving average price of $406.51 and a 200 day moving average price of $387.45. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

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, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.81 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 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.