Southern Style Financial Inc. Buys New Shares in The Home Depot, Inc. (NYSE:HD)

Southern Style Financial Inc. bought a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 799 shares of the home improvement retailer’s stock, valued at approximately $311,000. Home Depot makes up about 0.3% of Southern Style Financial Inc.’s investment portfolio, making the stock its 23rd largest position.

A number of other large investors have also recently added to or reduced their stakes in the company. Quarry LP lifted its stake in Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 36 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Home Depot in the second quarter valued at approximately $47,000. Anchor Investment Management LLC lifted its position in shares of Home Depot by 1.1% in the second quarter. Anchor Investment Management LLC now owns 19,965 shares of the home improvement retailer’s stock valued at $6,873,000 after buying an additional 223 shares during the last quarter. Ashburton Jersey Ltd bought a new position in shares of Home Depot during the 2nd quarter worth approximately $8,450,000. Finally, Mattson Financial Services LLC acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $1,382,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HD. Barclays raised their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Truist Financial boosted their price objective on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note 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 assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Up 0.3 %

Shares of NYSE HD opened at $414.56 on Friday. The stock has a 50-day moving average price of $407.93 and a two-hundred day moving average price of $391.93. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market cap of $411.81 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 4.32 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the company earned $3.81 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, 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 disclosed 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 dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insider Buying and Selling

In other news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last 90 days. Insiders own 0.10% of the company’s stock.

Home Depot 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.