Spartan Planning & Wealth Management Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Spartan Planning & Wealth Management purchased a new position in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,031 shares of the home improvement retailer’s stock, valued at approximately $790,000. Home Depot makes up 0.7% of Spartan Planning & Wealth Management’s investment portfolio, making the stock its 29th biggest holding.

Other large investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in shares of Home Depot in the 2nd quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter worth approximately $41,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the third quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the second quarter worth approximately $47,000. Finally, Quarry LP grew its position in Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HD has been the topic of a number of recent research reports. Sanford C. Bernstein assumed coverage on Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. TD Cowen boosted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Royal Bank of Canada upped their price target on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus raised 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 issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

NYSE:HD traded down $3.82 during trading hours on Tuesday, hitting $385.55. 979,174 shares of the company traded hands, compared to its average volume of 2,218,849. 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 Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a 50-day moving average of $406.66 and a 200 day moving average of $384.83. The stock has a market capitalization of $382.99 billion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 2.90 and a beta of 1.05.

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 business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the company earned $3.81 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.33%. Home Depot’s payout ratio is presently 61.14%.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,188 shares of company stock worth $15,624,585. Corporate 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.