TCI Wealth Advisors Inc. Lowers Stake in The Home Depot, Inc. (NYSE:HD)

TCI Wealth Advisors Inc. lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,499 shares of the home improvement retailer’s stock after selling 73 shares during the period. TCI Wealth Advisors Inc.’s holdings in Home Depot were worth $2,382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. K.J. Harrison & Partners Inc raised its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after buying an additional 3,590 shares during the last quarter. Wealth Management Partners LLC increased its position in shares of Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after acquiring an additional 36 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after acquiring an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in Home Depot in the 4th quarter worth approximately $409,000. Finally, ARS Wealth Advisors Group LLC lifted its position in Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after acquiring an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other Home Depot news, 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 transaction, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

Shares of HD opened at $346.41 on Thursday. The business has a 50-day simple moving average of $362.86 and a two-hundred day simple moving average of $381.18. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a market cap of $344.65 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.32 and a beta of 1.02.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.66%. Home Depot’s payout ratio is 62.42%.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Mizuho dropped their price target on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective 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. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

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.