Pacific Capital Wealth Advisors Inc. Makes New $61,000 Investment in The Home Depot, Inc. (NYSE:HD)

Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 176 shares of the home improvement retailer’s stock, valued at approximately $61,000.

Several other hedge funds also recently made changes to their positions in HD. International Assets Investment Management LLC lifted its stake in Home Depot by 12,647.4% during the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after buying an additional 5,525,791 shares in the last quarter. Jennison Associates LLC boosted its stake in Home Depot by 38.4% in the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after purchasing an additional 1,207,388 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Home Depot during the 3rd quarter worth approximately $207,210,000. Envestnet Asset Management Inc. raised its stake in Home Depot by 20.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 2,468,902 shares of the home improvement retailer’s stock valued at $746,003,000 after purchasing an additional 421,619 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Home Depot by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after purchasing an additional 347,614 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

NYSE HD traded down $1.99 during trading hours on Wednesday, reaching $338.70. 3,122,850 shares of the company’s stock were exchanged, compared to its average volume of 3,338,355. The firm has a fifty day moving average of $360.47 and a 200-day moving average of $343.54. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The stock has a market cap of $335.66 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. The company’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.66%. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is currently 59.60%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HD shares. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Wedbush upped their target price on Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Stifel Nicolaus boosted their price target on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Bank of America increased their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Royal Bank of Canada boosted their target price on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $375.19.

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.