Kavar Capital Partners Group LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,100 shares of the home improvement retailer’s stock after selling 530 shares during the quarter. Kavar Capital Partners Group LLC’s holdings in Home Depot were worth $4,769,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in HD. Fairfield Bush & CO. bought a new position in Home Depot in the 1st quarter valued at about $27,000. Align Wealth Management LLC bought a new position in Home Depot in the 4th quarter valued at about $30,000. Glassy Mountain Advisors Inc. bought a new position in Home Depot in the 4th quarter valued at about $30,000. Bellwether Advisors LLC increased its stake in Home Depot by 74.0% in the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 54 shares during the last quarter. Finally, EWG Elevate Inc. purchased a new stake in Home Depot in the 4th quarter valued at about $36,000. Institutional investors own 68.31% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein decreased their price target on shares of Home Depot from $333.00 to $314.00 in a research note on Wednesday, May 17th. DA Davidson reduced their price objective on shares of Home Depot from $334.00 to $306.00 and set a “neutral” rating for the company in a research note on Wednesday, February 22nd. Oppenheimer reduced their price objective on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a research note on Friday, February 17th. Piper Sandler reduced their price objective on shares of Home Depot from $320.00 to $300.00 in a research note on Wednesday, February 15th. Finally, Evercore ISI reduced their price objective on shares of Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.25.
Home Depot Price Performance
Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.80 by $0.02. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The company had revenue of $37.26 billion for the quarter, compared to the consensus estimate of $38.35 billion. During the same period in the previous year, the firm posted $4.09 EPS. Home Depot’s revenue for the quarter was down 4.2% compared to the same quarter last year. As a group, equities research analysts predict that The Home Depot, Inc. will post 14.98 earnings per share for the current fiscal year.
Home Depot Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be paid a dividend of $2.09 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.88%. Home Depot’s dividend payout ratio is presently 50.94%.
Insider Buying and Selling at Home Depot
In other news, EVP Hector A. Padilla sold 1,502 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total value of $440,221.18. Following the completion of the sale, the executive vice president now owns 13,958 shares in the company, valued at approximately $4,090,950.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.
About Home Depot
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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