Harvey Capital Management Inc. Sells 38 Shares of The Home Depot, Inc. (NYSE:HD)

Harvey Capital Management Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,115 shares of the home improvement retailer’s stock after selling 38 shares during the period. Harvey Capital Management Inc.’s holdings in Home Depot were worth $3,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HD. Navigoe LLC bought a new stake in shares of Home Depot in the fourth quarter worth $29,000. Abound Financial LLC bought a new stake in shares of Home Depot in the first quarter worth $31,000. Quarry LP grew its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares during the period. Sellwood Investment Partners LLC bought a new stake in shares of Home Depot in the fourth quarter worth $39,000. Finally, Spurstone Advisory Services LLC bought a new stake in shares of Home Depot in the fourth quarter worth $45,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.1%

Home Depot stock opened at $367.45 on Wednesday. The business has a fifty day moving average of $365.52 and a two-hundred day moving average of $375.92. 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 firm has a market cap of $365.59 billion, a P/E ratio of 24.93, a P/E/G ratio of 3.50 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last posted its 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 return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the prior year, the company earned $3.63 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio is presently 62.42%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction 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 sale, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction 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 sale, the executive vice president owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Piper Sandler lowered 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. DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Sanford C. Bernstein reiterated a “market perform” rating and set a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Evercore ISI set a $400.00 target price on Home Depot and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Company 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.