Shum Financial Group Inc. Purchases Shares of 5,804 The Home Depot, Inc. (NYSE:HD)

Shum Financial Group Inc. acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 3rd quarter, Holdings Channel reports. The fund acquired 5,804 shares of the home improvement retailer’s stock, valued at approximately $2,322,000. Home Depot accounts for about 1.9% of Shum Financial Group Inc.’s portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WFA Asset Management Corp increased its stake in Home Depot by 10.7% during the first quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after acquiring an additional 135 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Home Depot by 5.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after purchasing an additional 623 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Home Depot in the first quarter valued at approximately $430,000. Creekmur Asset Management LLC raised its holdings in Home Depot by 19.2% in the first quarter. Creekmur Asset Management LLC now owns 540 shares of the home improvement retailer’s stock valued at $207,000 after buying an additional 87 shares during the period. Finally, Tidal Investments LLC grew its stake in Home Depot by 13.2% during the first quarter. Tidal Investments LLC now owns 58,528 shares of the home improvement retailer’s stock worth $22,468,000 after buying an additional 6,824 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HD. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus lifted their price objective on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Oppenheimer upped their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Morgan Stanley raised their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Truist Financial upped their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Price Performance

Shares of Home Depot stock traded down $3.00 during trading on Tuesday, hitting $425.67. The stock had a trading volume of 182,588 shares, compared to its average volume of 3,385,586. The business has a fifty day moving average of $404.17 and a two-hundred day moving average of $369.82. The Home Depot, Inc. has a fifty-two week low of $308.59 and a fifty-two week high of $430.25. The firm has a market cap of $422.84 billion, a P/E ratio of 29.12, a PEG ratio of 2.92 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.81 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value 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 approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by insiders.

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.