The Home Depot, Inc. (NYSE:HD) Stake Lessened by Olde Wealth Management LLC

Olde Wealth Management LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 1.3% in the first quarter, Holdings Channel reports. The institutional investor owned 3,371 shares of the home improvement retailer’s stock after selling 45 shares during the quarter. Olde Wealth Management LLC’s holdings in Home Depot were worth $1,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. Brighton Jones LLC boosted its holdings in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after purchasing an additional 565 shares during the period. Cookson Peirce & Co. Inc. acquired a new position in Home Depot in the fourth quarter worth $216,000. Assetmark Inc. boosted its holdings in Home Depot by 28.4% in the fourth quarter. Assetmark Inc. now owns 47,945 shares of the home improvement retailer’s stock worth $18,650,000 after purchasing an additional 10,594 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in Home Depot by 11.1% in the fourth quarter. Proficio Capital Partners LLC now owns 10,545 shares of the home improvement retailer’s stock worth $4,102,000 after purchasing an additional 1,055 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $371.36 on Friday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company has a market capitalization of $369.47 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.53 and a beta of 1.00. The firm has a 50-day moving average of $365.14 and a two-hundred day moving average of $376.33.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the company posted $3.63 earnings per share. Home Depot’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HD shares. Truist Financial boosted their price target on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Jefferies Financial Group reduced their price target on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an “outperform” rating in a report on Thursday, May 22nd. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Monday, June 30th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate 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.