Fortem Financial Group LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Fortem Financial Group LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 23.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,622 shares of the home improvement retailer’s stock after buying an additional 312 shares during the quarter. Fortem Financial Group LLC’s holdings in Home Depot were worth $657,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Arete Wealth Advisors LLC purchased a new position in shares of Home Depot during the 3rd quarter worth $6,544,000. Toronto Dominion Bank increased its stake in shares of Home Depot by 10.6% during the 3rd quarter. Toronto Dominion Bank now owns 612,888 shares of the home improvement retailer’s stock valued at $248,342,000 after acquiring an additional 58,652 shares during the last quarter. Chiron Investment Management LLC purchased a new position in shares of Home Depot during the 3rd quarter worth about $2,406,000. Coldstream Capital Management Inc. lifted its holdings in shares of Home Depot by 7.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 36,118 shares of the home improvement retailer’s stock worth $14,644,000 after acquiring an additional 2,450 shares during the period. Finally, Orion Capital Management LLC grew its holdings in Home Depot by 2.3% in the third quarter. Orion Capital Management LLC now owns 2,179 shares of the home improvement retailer’s stock valued at $883,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HD shares. Truist Financial boosted their price objective on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI boosted their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler raised their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. UBS Group increased their target price 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. Finally, Stifel Nicolaus boosted their price objective 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

Shares of NYSE HD opened at $422.57 on Wednesday. The business has a 50 day simple moving average of $411.09 and a 200-day simple moving average of $376.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a market capitalization of $419.76 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the previous year, the firm earned $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

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.