Cove Private Wealth LLC Buys 1,330 Shares of The Home Depot, Inc. (NYSE:HD)

Cove Private Wealth LLC lifted its stake in The Home Depot, Inc. (NYSE:HD) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,708 shares of the home improvement retailer’s stock after purchasing an additional 1,330 shares during the quarter. Home Depot comprises about 1.8% of Cove Private Wealth LLC’s holdings, making the stock its 10th largest holding. Cove Private Wealth LLC’s holdings in Home Depot were worth $2,998,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Home Depot in the 3rd quarter valued at $336,231,000. FMR LLC grew its holdings in shares of Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after purchasing an additional 518,054 shares during the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in Home Depot in the 2nd quarter valued at about $159,365,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. DA Davidson lifted their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus upped their price target on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Sanford C. Bernstein began coverage on Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Finally, Truist Financial boosted their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Trading Up 2.3 %

NYSE:HD opened at $418.65 on Wednesday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The business’s 50-day moving average is $406.53 and its two-hundred day moving average is $388.73. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $415.87 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 4.31 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $3.81 EPS. Research analysts predict that The Home Depot, Inc. will post 15.12 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, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.15%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Activity at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,188 shares of company stock valued at $15,624,585. 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.