Richardson Financial Services Inc. Purchases New Position in The Home Depot, Inc. (NYSE:HD)

Richardson Financial Services Inc. purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,001 shares of the home improvement retailer’s stock, valued at approximately $1,040,000. Home Depot makes up approximately 0.9% of Richardson Financial Services Inc.’s holdings, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bare Financial Services Inc bought a new position in shares of Home Depot during the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC bought a new stake in Home Depot in the 4th quarter worth $27,000. Keener Financial Planning LLC bought a new stake in Home Depot in the 4th quarter worth $31,000. PFG Private Wealth Management LLC grew 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 acquiring an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in Home Depot in the 4th quarter worth $35,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Home Depot stock traded down $1.04 during midday trading on Friday, reaching $346.84. 2,588,960 shares of the company traded hands, compared to its average volume of 3,346,942. The firm has a market capitalization of $343.93 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 2.39 and a beta of 1.00. The business has a 50 day moving average of $337.58 and a two-hundred day moving average of $351.28. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last announced 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 net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the prior year, the company earned $3.82 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. 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 2.59%. Home Depot’s dividend payout ratio is currently 60.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lifted their target price on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. DA Davidson reaffirmed a “neutral” rating and set a $370.00 target price on shares of Home Depot in a research note on Monday, April 1st. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Citigroup cut their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $377.46.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

Home Depot Company 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.