Evercore Wealth Management LLC Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Evercore Wealth Management LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 1.5% during the 1st quarter, HoldingsChannel reports. The fund owned 475,637 shares of the home improvement retailer’s stock after buying an additional 7,157 shares during the period. Home Depot accounts for approximately 2.5% of Evercore Wealth Management LLC’s portfolio, making the stock its 9th biggest holding. Evercore Wealth Management LLC’s holdings in Home Depot were worth $142,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Sky Investment Group LLC lifted its stake in shares of Home Depot by 3.4% in the first quarter. Sky Investment Group LLC now owns 21,198 shares of the home improvement retailer’s stock worth $6,345,000 after buying an additional 703 shares in the last quarter. Barrett Asset Management LLC raised its holdings in shares of Home Depot by 5.6% during the first quarter. Barrett Asset Management LLC now owns 66,478 shares of the home improvement retailer’s stock valued at $19,898,000 after purchasing an additional 3,507 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in shares of Home Depot by 28.5% during the first quarter. Everhart Financial Group Inc. now owns 2,062 shares of the home improvement retailer’s stock valued at $617,000 after purchasing an additional 457 shares during the last quarter. Diversified LLC increased its holdings in Home Depot by 1.5% during the first quarter. Diversified LLC now owns 3,257 shares of the home improvement retailer’s stock valued at $975,000 after buying an additional 47 shares during the last quarter. Finally, Matisse Capital increased its holdings in Home Depot by 3.9% during the first quarter. Matisse Capital now owns 2,664 shares of the home improvement retailer’s stock valued at $797,000 after buying an additional 100 shares during the last quarter. Institutional investors own 68.66% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $297.54 on Tuesday. The firm has a 50-day moving average price of $300.92 and a 200-day moving average price of $302.04. The firm has a market capitalization of $304.60 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99. The company has a current ratio of 1.18, a quick ratio of 0.25 and a debt-to-equity ratio of 165.70. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, topping the consensus estimate of $4.95 by $0.10. The company had revenue of $43.79 billion for the quarter, compared to the consensus estimate of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.53 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 16.56 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.55%. The ex-dividend date is Wednesday, August 31st. Home Depot’s dividend payout ratio is presently 46.71%.

Home Depot declared that its board has approved a share repurchase plan on Thursday, August 18th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to buy up to 4.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HD. UBS Group increased their price objective on shares of Home Depot from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Jefferies Financial Group dropped their target price on shares of Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 18th. Truist Financial upped their target price on shares of Home Depot from $375.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Evercore ISI dropped their target price on shares of Home Depot to $360.00 in a research report on Thursday, June 9th. Finally, Guggenheim upped their target price on shares of Home Depot from $350.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $365.95.

Insider Buying and Selling

In related news, EVP Matt Carey sold 12,650 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $316.26, for a total value of $4,000,689.00. Following the transaction, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is currently owned by insiders.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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