Accent Capital Management LLC Makes New $430,000 Investment in The Home Depot, Inc. (NYSE:HD)

Accent Capital Management LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,241 shares of the home improvement retailer’s stock, valued at approximately $430,000.

Several other large investors have also recently made changes to their positions in HD. Capital Research Global Investors increased its holdings in Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Home Depot by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after acquiring an additional 347,614 shares during the period. Norges Bank purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $4,311,070,000. Northern Trust Corp raised its holdings in shares of Home Depot by 1.3% in the 3rd quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after purchasing an additional 153,141 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Home Depot by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock valued at $3,050,363,000 after purchasing an additional 195,670 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Truist Financial decreased their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. Wells Fargo & Company reduced their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Finally, Bank of America boosted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.46.

Home Depot Price Performance

Shares of NYSE:HD traded up $2.66 during trading on Monday, reaching $349.50. The company had a trading volume of 2,647,149 shares, compared to its average volume of 3,397,345. The company has a fifty day moving average of $337.33 and a two-hundred day moving average of $351.54. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock has a market capitalization of $346.57 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 2.40 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter in the prior year, the firm earned $3.82 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.58%. Home Depot’s payout ratio is 60.36%.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by insiders.

About Home Depot

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.