Sound Income Strategies LLC Has $1.61 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Sound Income Strategies LLC lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,131 shares of the home improvement retailer’s stock after acquiring an additional 138 shares during the period. Sound Income Strategies LLC’s holdings in Home Depot were worth $1,607,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of HD. International Assets Investment Management LLC raised its holdings in Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot in the third quarter valued at about $336,231,000. FMR LLC raised its stake in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Home Depot by 295.6% during the third 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 period. Finally, Magnolia Capital Advisors LLC acquired a new stake in Home Depot during the second quarter worth about $159,365,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD opened at $414.53 on Friday. The firm has a market capitalization of $411.77 billion, a P/E ratio of 28.16, a P/E/G ratio of 4.32 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a 50 day moving average price of $407.14 and a two-hundred day moving average price of $390.16. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the prior year, the company posted $3.81 earnings per share. Home Depot’s revenue was up 6.6% compared to the same quarter last year. Equities analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Truist Financial lifted their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Bank of America lifted their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Insiders Place Their Bets

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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.