C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases 11,273 Shares of The Home Depot, Inc. (NYSE:HD)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 102.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,260 shares of the home improvement retailer’s stock after acquiring an additional 11,273 shares during the period. Home Depot comprises approximately 1.0% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ portfolio, making the stock its 18th biggest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Home Depot were worth $8,539,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in HD. Norges Bank bought a new stake in Home Depot in the fourth quarter valued at approximately $4,311,070,000. International Assets Investment Management LLC boosted its position in Home Depot by 12,647.4% during the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after buying an additional 5,525,791 shares during the period. Jennison Associates LLC grew its holdings in Home Depot by 38.4% in the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after acquiring an additional 1,207,388 shares during the last quarter. Capital Research Global Investors increased its position in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Home Depot by 38.9% during the fourth quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock valued at $613,258,000 after acquiring an additional 495,894 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.0 %

Home Depot stock traded up $7.01 during mid-day trading on Thursday, reaching $351.19. The stock had a trading volume of 1,087,402 shares, compared to its average volume of 3,415,424. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a 50-day moving average price of $338.82 and a two-hundred day moving average price of $352.01. The company has a market capitalization of $348.24 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the previous year, the company earned $3.82 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.56%. Home Depot’s dividend payout ratio is 60.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen reduced their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Wedbush reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. Truist Financial reduced their price objective on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $378.42.

Insiders Place Their Bets

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was 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 $11,503,123.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

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.