Fairman Group LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Fairman Group LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 499 shares of the home improvement retailer’s stock, valued at approximately $173,000.

Several other institutional investors also recently modified their holdings of the business. Cape Investment Advisory Inc. grew its stake in Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after purchasing an additional 28 shares during the period. Optas LLC boosted its holdings in shares of Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after buying an additional 29 shares during the last quarter. STAR Financial Bank grew its position in Home Depot by 0.7% during the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after buying an additional 29 shares during the period. Harvest Investment Advisors LLC increased its holdings in Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after buying an additional 30 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. raised its position in Home Depot by 0.3% in the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HD. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Tuesday, May 14th. TD Cowen reduced their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Guggenheim restated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. Royal Bank of Canada increased their price target on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Finally, Bank of America lifted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.46.

Home Depot Stock Performance

Shares of HD opened at $353.95 on Wednesday. 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 stock has a 50-day moving average price of $337.18 and a 200-day moving average price of $351.78. The company has a market cap of $350.98 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. 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 announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. Home Depot’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.82 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.54%. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Activity

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

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.