Addenda Capital Inc. Has $6.80 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Addenda Capital Inc. reduced its position in The Home Depot, Inc. (NYSE:HD) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,714 shares of the home improvement retailer’s stock after selling 50 shares during the period. Addenda Capital Inc.’s holdings in Home Depot were worth $6,795,000 at the end of the most recent quarter.

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

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction on 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 sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD stock traded up $2.85 during midday trading on Friday, reaching $344.34. 6,343,987 shares of the company’s stock traded hands, compared to its average volume of 3,465,830. The company has a 50-day simple moving average of $338.51 and a two-hundred day simple moving average of $352.60. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a market cap of $341.45 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.36 and a beta of 1.00. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

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 the consensus estimate of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $3.82 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.61%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. Truist Financial decreased their target price on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Evercore ISI increased their target price on Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Guggenheim restated a “buy” rating and set a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. Finally, Wells Fargo & Company decreased their target price on Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.42.

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.