Balentine LLC Has $2.71 Million Holdings in The Home Depot, Inc. $HD

Balentine LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 153.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,690 shares of the home improvement retailer’s stock after purchasing an additional 4,049 shares during the quarter. Balentine LLC’s holdings in Home Depot were worth $2,711,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Summitry LLC raised its stake in shares of Home Depot by 33.0% in the third quarter. Summitry LLC now owns 1,802 shares of the home improvement retailer’s stock valued at $730,000 after purchasing an additional 447 shares in the last quarter. Zions Bancorporation National Association UT lifted its position in shares of Home Depot by 9.2% during the third quarter. Zions Bancorporation National Association UT now owns 8,952 shares of the home improvement retailer’s stock worth $3,627,000 after purchasing an additional 752 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Home Depot by 0.3% during the third quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock valued at $39,834,241,000 after purchasing an additional 331,217 shares during the last quarter. Providence Financial Advisors LLC bought a new stake in shares of Home Depot during the third quarter valued at approximately $711,000. Finally, Atticus Wealth Management LLC increased its holdings in shares of Home Depot by 13.6% in the third quarter. Atticus Wealth Management LLC now owns 5,108 shares of the home improvement retailer’s stock valued at $2,070,000 after purchasing an additional 611 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HD. DA Davidson lowered their price objective on Home Depot from $430.00 to $407.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. JPMorgan Chase & Co. cut their target price on Home Depot from $444.00 to $423.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Morgan Stanley increased their price objective on Home Depot from $395.00 to $412.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Wolfe Research decreased their price target on shares of Home Depot from $415.00 to $414.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. Finally, TD Cowen increased their target price on Home Depot from $410.00 to $450.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $407.23.

Home Depot Stock Performance

Home Depot stock opened at $391.03 on Tuesday. The business has a 50 day moving average of $366.99 and a 200-day moving average of $380.21. The company has a market capitalization of $389.27 billion, a P/E ratio of 26.65, a P/E/G ratio of 13.97 and a beta of 1.08. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $426.75. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 earnings per share for the quarter, missing analysts’ consensus estimates of $3.83 by ($0.09). The business had revenue of $41.35 billion for the quarter, compared to the consensus estimate of $41.06 billion. Home Depot had a return on equity of 160.74% and a net margin of 8.77%.The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.78 earnings per share. On average, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot’s dividend payout ratio (DPR) is presently 62.71%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 2,872 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $348.52, for a total transaction of $1,000,949.44. Following the completion of the sale, the executive vice president owned 13,196 shares of the company’s stock, valued at $4,599,069.92. This trade represents a 17.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Angie Brown sold 1,946 shares of Home Depot stock in a transaction on Friday, December 12th. The shares were sold at an average price of $357.63, for a total transaction of $695,947.98. Following the completion of the sale, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. This trade represents a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,963 shares of company stock worth $1,748,845 in the last 90 days. Corporate insiders own 0.10% of the company’s stock.

Home Depot Profile

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.