Oak Harvest Investment Services Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Oak Harvest Investment Services grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 27.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,298 shares of the home improvement retailer’s stock after purchasing an additional 6,649 shares during the quarter. Home Depot comprises approximately 2.1% of Oak Harvest Investment Services’ portfolio, making the stock its 10th biggest holding. Oak Harvest Investment Services’ holdings in Home Depot were worth $12,006,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. Bey Douglas LLC bought a new position in Home Depot in the 4th quarter worth about $913,000. Hartline Investment Corp boosted its position in shares of Home Depot by 3.0% in the fourth quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after acquiring an additional 460 shares during the period. Wolf Group Capital Advisors boosted its position in shares of Home Depot by 6.1% in the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group purchased a new position in Home Depot during the fourth quarter valued at approximately $253,000. Finally, Zullo Investment Group Inc. increased its holdings in Home Depot by 6.6% during the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after acquiring an additional 504 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HD shares. Guggenheim restated a “buy” rating and set a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. UBS Group reduced their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Bank of America boosted 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. Finally, DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Trading Down 0.4 %

NYSE:HD opened at $333.64 on Friday. The firm has a market capitalization of $330.84 billion, a P/E ratio of 22.38, a P/E/G ratio of 2.30 and a beta of 0.98. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The company has a fifty day moving average of $338.48 and a 200 day moving average of $352.30.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is currently 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.