The Home Depot, Inc. (NYSE:HD) Shares Sold by McLean Asset Management Corp

McLean Asset Management Corp lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592 shares of the home improvement retailer’s stock after selling 91 shares during the quarter. McLean Asset Management Corp’s holdings in Home Depot were worth $869,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Merit Financial Group LLC lifted its stake in shares of Home Depot by 15.5% during the first quarter. Merit Financial Group LLC now owns 55,063 shares of the home improvement retailer’s stock worth $20,180,000 after purchasing an additional 7,397 shares in the last quarter. Affiance Financial LLC lifted its stake in shares of Home Depot by 7.3% during the first quarter. Affiance Financial LLC now owns 590 shares of the home improvement retailer’s stock worth $216,000 after purchasing an additional 40 shares in the last quarter. Lbmc Investment Advisors LLC lifted its stake in shares of Home Depot by 0.6% in the first quarter. Lbmc Investment Advisors LLC now owns 7,695 shares of the home improvement retailer’s stock worth $2,820,000 after acquiring an additional 45 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Home Depot by 0.8% in the first quarter. Harbor Investment Advisory LLC now owns 12,837 shares of the home improvement retailer’s stock worth $4,705,000 after acquiring an additional 108 shares in the last quarter. Finally, Pioneer Wealth Management Group acquired a new position in shares of Home Depot in the first quarter worth about $217,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Securities cut Home Depot to a “buy” rating in a research note on Monday. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating on shares of Home Depot in a research note on Monday. Truist Financial boosted their price target on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Stock Performance

Shares of HD stock opened at $367.86 on Tuesday. The Home Depot, Inc. has a 12-month low of $323.93 and a 12-month high of $439.37. The firm has a market capitalization of $365.99 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The business has a 50 day simple moving average of $361.04 and a 200 day simple moving average of $385.45. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same period last year, the company earned $3.63 earnings per share. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.