Cerro Pacific Wealth Advisors LLC Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Cerro Pacific Wealth Advisors LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,540 shares of the home improvement retailer’s stock after buying an additional 77 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Home Depot were worth $1,435,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the third quarter valued at $41,000. Sugar Maple Asset Management LLC acquired a new position in Home Depot during the fourth quarter worth about $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the third quarter valued at about $46,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Home Depot in the second quarter valued at approximately $47,000. Finally, Quarry LP grew its position in shares of Home Depot by 36.0% in the second 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. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD stock opened at $414.53 on Friday. The firm has a market cap of $411.77 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The stock has a 50-day simple moving average of $407.14 and a 200-day simple moving average of $390.16. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating 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 analyst estimates of $39.31 billion. During the same period last year, the business earned $3.81 EPS. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. 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%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HD shares. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Sanford C. Bernstein started coverage on Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective for the company. Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Evercore ISI lifted their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. One equities research 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.