The Home Depot, Inc. (NYSE:HD) Stock Position Lowered by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC lessened its position in The Home Depot, Inc. (NYSE:HD) by 8.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,851 shares of the home improvement retailer’s stock after selling 179 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Home Depot were worth $641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HD. Opal Wealth Advisors LLC lifted its stake in Home Depot by 8.4% during the third quarter. Opal Wealth Advisors LLC now owns 3,213 shares of the home improvement retailer’s stock valued at $971,000 after buying an additional 248 shares in the last quarter. Norris Perne & French LLP MI lifted its position in shares of Home Depot by 0.7% in the 3rd quarter. Norris Perne & French LLP MI now owns 52,374 shares of the home improvement retailer’s stock valued at $15,825,000 after acquiring an additional 379 shares in the last quarter. Fiduciary Alliance LLC boosted its stake in Home Depot by 6.5% in the 3rd quarter. Fiduciary Alliance LLC now owns 35,368 shares of the home improvement retailer’s stock worth $10,687,000 after purchasing an additional 2,168 shares during the period. Benedict Financial Advisors Inc. grew its position in Home Depot by 1.3% during the 3rd quarter. Benedict Financial Advisors Inc. now owns 6,006 shares of the home improvement retailer’s stock worth $1,815,000 after purchasing an additional 75 shares in the last quarter. Finally, Czech National Bank raised its stake in Home Depot by 46.6% during the 3rd quarter. Czech National Bank now owns 175,719 shares of the home improvement retailer’s stock valued at $53,095,000 after purchasing an additional 55,839 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. HSBC reiterated a “reduce” rating and set a $323.00 price target on shares of Home Depot in a report on Wednesday, April 3rd. Bank of America increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. 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. TD Cowen boosted their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, Evercore ISI lowered their price objective on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Home Depot Stock Performance

Shares of NYSE HD traded up $0.66 during trading hours on Monday, hitting $335.75. 981,843 shares of the stock were exchanged, compared to its average volume of 3,325,474. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The company’s 50 day moving average is $364.77 and its 200 day moving average is $341.27. The firm has a market capitalization of $332.73 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.30 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid 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 2.68%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is presently 59.60%.

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.