Napa Wealth Management Takes $211,000 Position in The Home Depot, Inc. (NYSE:HD)

Napa Wealth Management purchased a new position in The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 520 shares of the home improvement retailer’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HD. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at $33,000. Denver PWM LLC bought a new position in shares of Home Depot in the 2nd quarter valued at $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot during the 2nd quarter worth $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. Truist Financial lifted their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group upped their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. TD Cowen increased their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Guggenheim increased their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

NYSE:HD opened at $410.44 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $302.34 and a twelve month high of $421.56. The company has a fifty day moving average of $400.41 and a 200-day moving average of $367.33. The firm has a market capitalization of $407.69 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.84 and a beta of 1.01.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.19%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.