Spartan Planning & Wealth Management Invests $790,000 in The Home Depot, Inc. (NYSE:HD)

Spartan Planning & Wealth Management purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,031 shares of the home improvement retailer’s stock, valued at approximately $790,000. Home Depot comprises about 0.7% of Spartan Planning & Wealth Management’s portfolio, making the stock its 29th largest holding.

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

Home Depot Price Performance

Home Depot stock traded down $3.82 during midday trading on Tuesday, hitting $385.55. 979,174 shares of the company’s stock were exchanged, compared to its average volume of 2,218,849. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a 50-day moving average price of $406.66 and a two-hundred day moving average price of $384.83. The company has a market cap of $382.99 billion, a P/E ratio of 26.19, a PEG ratio of 2.90 and a beta of 1.05. 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 issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS 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 the consensus estimate of $39.31 billion. During the same period in the prior year, the firm posted $3.81 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % 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 Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. 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. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on HD. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays increased their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada boosted their target price on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. One 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.