Transcendent Capital Group LLC Takes $398,000 Position in The Home Depot, Inc. (NYSE:HD)

Transcendent Capital Group LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,148 shares of the home improvement retailer’s stock, valued at approximately $398,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bare Financial Services Inc bought a new stake in shares of Home Depot during the 4th quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot in the 4th quarter worth about $27,000. Keener Financial Planning LLC acquired a new position in Home Depot in the 4th quarter worth about $31,000. PFG Private Wealth Management LLC increased its holdings in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in Home Depot in the 4th quarter worth about $35,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HD shares. Evercore ISI increased their price target on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Wells Fargo & Company cut their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. UBS Group cut their price target on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Royal Bank of Canada increased their price target on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $377.46.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

NYSE HD traded down $1.04 during trading on Friday, reaching $346.84. The company’s stock had a trading volume of 2,588,960 shares, compared to its average volume of 3,346,942. The stock has a market capitalization of $343.93 billion, a PE ratio of 23.26, a P/E/G ratio of 2.39 and a beta of 1.00. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The firm has a fifty day moving average of $337.58 and a 200 day moving average of $351.00. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.82 EPS. Analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is currently 60.36%.

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.