Flynn Zito Capital Management LLC Has $766,000 Stock Position in The Home Depot, Inc. (NYSE:HD)

Flynn Zito Capital Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 9.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,211 shares of the home improvement retailer’s stock after selling 226 shares during the period. Home Depot comprises 0.5% of Flynn Zito Capital Management LLC’s holdings, making the stock its 22nd largest position. Flynn Zito Capital Management LLC’s holdings in Home Depot were worth $766,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of HD. Congress Wealth Management LLC DE raised its holdings in Home Depot by 3.7% in the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after acquiring an additional 3,162 shares during the period. Wolf Group Capital Advisors raised its holdings in Home Depot by 6.1% in the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group bought a new position in Home Depot in the 4th quarter valued at about $253,000. Psagot Value Holdings Ltd. Israel raised its holdings in Home Depot by 8.0% in the 3rd quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock valued at $819,000 after acquiring an additional 200 shares during the period. Finally, Zullo Investment Group Inc. increased its holdings in shares of Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after purchasing an additional 504 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction 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 owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction 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 owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Price Performance

Shares of NYSE:HD opened at $335.36 on Friday. The firm has a market cap of $332.35 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 2.22 and a beta of 0.98. The firm’s fifty day moving average is $367.36 and its 200-day moving average is $339.21. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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. The company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.68%. Home Depot’s payout ratio is presently 59.60%.

Analyst Ratings Changes

Several research analysts have recently commented on HD shares. Royal Bank of Canada raised their target price on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Evercore ISI lowered their target price on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $417.00 target price on shares of Home Depot in a report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $390.00 target price on shares of Home Depot in a report on Friday, April 5th. Finally, Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

About Home Depot

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.