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Blossom Wealth Management increases its stock holdings in The Home Depot, Inc. (NYSE:HD)


Blossom Wealth Management added to its holdings in The Home Depot, Inc. (NYSE: HDGet a rating) by 8.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund held 1,687 shares of the home improvement retailer’s stock after buying an additional 138 shares during the period. Home Depot represents 2.3% of Blossom Wealth Management’s portfolio, making the stock its 14th largest position. Blossom Wealth Management’s holdings in Home Depot were worth $505,000 when it last filed with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Home Depot by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer worth $7,002,662,000 after purchasing an additional 701,811 shares in the last quarter. Norges Bank bought a new position in Home Depot during Q4 for a value of approximately $4,325,629,000. Fisher Asset Management LLC increased its holdings in Home Depot by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 7,830,978 shares of the home improvement retailer worth $3,249,934,000 after purchasing an additional 346,970 shares in the last quarter. Deutsche Bank AG increased its stake in Home Depot by 12.2% during the fourth quarter. Deutsche Bank AG now owns 5,221,435 shares of the home improvement retailer worth $2,166,946,000 after buying an additional 566,462 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in Home Depot by 21.1% during the 4th quarter. Jennison Associates LLC now owns 4,823,391 shares of the home improvement retailer worth $2,001,755,000 after purchasing an additional 840,033 shares in the last quarter. Hedge funds and other institutional investors hold 70.61% of the company’s shares.

A Wall Street analyst gives his opinion

A number of research analysts have commented on the HD shares. Raymond James cut its target price on Home Depot from $350.00 to $340.00 and set an “outperform” rating on the stock in a Wednesday, May 18 report. DA Davidson reduced its target price on Home Depot from $354.00 to $330.00 and gave the stock an “na” rating in a Wednesday, May 18 report. Citigroup raised its price target on Home Depot from $327.00 to $348.00 in a Friday, May 20 research report. Truist Financial cut its price target on Home Depot from $405.00 to $375.00 and set an “na” rating for the company in a Wednesday, May 18 research report. Finally, Guggenheim lowered its target price on Home Depot from $400.00 to $350.00 and gave the stock an “na” rating in a Wednesday, May 18 research report. Five equity research analysts gave the stock a hold rating and sixteen gave the stock a buy rating. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $368.45.

Home Depot stock up to 0.5%

Shares of HD Stock opened at $306.59 on Friday. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61. The stock has a market capitalization of $315.10 billion, a PE ratio of 19.47, a growth price-earnings ratio of 1.97 and a beta of 0.98. The company’s fifty-day moving average is $288.95 and its 200-day moving average is $316.52. The company has a debt ratio of 35.47, a quick ratio of 0.28 and a current ratio of 1.11.

Home deposit (NYSE: HDGet a rating) last released its quarterly results on Tuesday, May 17. The home improvement retailer reported earnings per share (EPS) of $4.09 for the quarter, beating the consensus estimate of $3.67 by $0.42. The Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. The company posted revenue of $38.91 billion for the quarter, versus $36.78 billion expected by analysts. During the same period last year, the company achieved EPS of $3.86. The company’s revenue for the quarter increased 3.8% on an annual basis. Stock analysts expect The Home Depot, Inc. to post earnings per share of 16.43 for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 16. Shareholders of record on Thursday, June 2 received a dividend of $1.90 per share. This represents an annualized dividend of $7.60 and a dividend yield of 2.48%. The ex-dividend date was Wednesday, June 1. The Home Depot’s dividend payout ratio (DPR) is currently 48.25%.

Insider activity

In other news, EVP Hector A. Padille sold 136 shares of Home Depot in a trade on Thursday, May 19. The stock was sold at an average price of $289.23, for a total transaction of $39,335.28. Following the transaction, the executive vice president now directly owns 11,230 shares of the company, valued at approximately $3,248,052.90. The sale was disclosed in a legal filing with the SEC, accessible via the SEC website. Separately, Executive Vice President Hector A. Padilla sold 136 shares of the company in a trade on Thursday, May 19. The stock was sold at an average price of $289.23, for a total transaction of $39,335.28. Following the completion of the sale, the executive vice president now directly owns 11,230 shares of the company, valued at approximately $3,248,052.90. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, VPE Anne Marie Campbell sold 11,293 shares of the company in a trade on Tuesday, May 24. The stock was sold at an average price of $288.03, for a total value of $3,252,722.79. Following the sale, the executive vice president now directly owns 51,175 shares of the company, valued at $14,739,935.25. Disclosure of this sale can be found here. 0.17% of the shares are held by insiders.

About Home Depot

(Get a rating)

The Home Depot, Inc. operates as a home improvement retailer. It operates Home Depot stores that sell a variety of building materials, home improvement products, lawn and garden products, and decorating products, as well as facility maintenance, repair and operation products. countertops, furnaces and central air conditioning systems, and windows.

Further reading

Want to see which other hedge funds hold HD? Visit HoldingsChannel.com for the latest 13F filings and insider trading for The Home Depot, Inc. (NYSE: HDGet a rating).

Institutional ownership by quarter for The Home Depot (NYSE:HD)



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