Mittelman Wealth Management purchased a new stake in The Home Depot, Inc. (NYSE:HD – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,794 shares of the home improvement retailer’s stock, valued at approximately $1,839,000. Home Depot makes up approximately 1.2% of Mittelman Wealth Management’s investment portfolio, making the stock its 21st largest holding.
A number of other hedge funds also recently made changes to their positions in HD. Bare Financial Services Inc bought a new position in Home Depot in the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC bought a new position in Home Depot in the 4th quarter valued at approximately $27,000. Keener Financial Planning LLC bought a new position in Home Depot in the 4th quarter valued at approximately $31,000. PFG Private Wealth Management LLC raised its holdings in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new position in Home Depot in the 4th quarter valued at approximately $35,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. HSBC lowered their price target on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and raised their price target for the stock from $352.00 to $395.00 in a report on Wednesday, June 26th. Finally, TD Cowen lowered their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.42.
Read Our Latest Stock Analysis on Home Depot
Insiders Place Their Bets
In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction on 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 approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.
Home Depot Stock Performance
NYSE HD opened at $359.77 on Friday. The company has a fifty day simple moving average of $339.52 and a 200 day simple moving average of $352.10. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The company has a market cap of $356.75 billion, a P/E ratio of 24.13, a PEG ratio of 2.44 and a beta of 0.98.
Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.82 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.
Home Depot Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.
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.
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