The Home Depot, Inc. (NYSE:HD) Holdings Cut by Lansing Street Advisors

Lansing Street Advisors reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% during the 1st quarter, HoldingsChannel reports. The fund owned 2,752 shares of the home improvement retailer’s stock after selling 36 shares during the period. Lansing Street Advisors’ holdings in Home Depot were worth $1,009,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HD. Navigoe LLC acquired a new stake in Home Depot in the 4th quarter worth approximately $29,000. Quarry LP grew its holdings in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the last quarter. Sellwood Investment Partners LLC acquired a new stake in Home Depot in the 4th quarter valued at approximately $39,000. NewSquare Capital LLC increased its position in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares during the period. Finally, Spurstone Advisory Services LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $45,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE:HD opened at $367.07 on Tuesday. The stock has a market capitalization of $365.21 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 3.51 and a beta of 1.02. 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 Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm has a 50 day moving average of $363.95 and a 200-day moving average of $376.92.

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 the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 EPS. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HD. Jefferies Financial Group reduced their price objective on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Gordon Haskett increased their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Mizuho cut their price objective on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Finally, Piper Sandler decreased their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Seven equities 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 owned 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’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 transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

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.