The Home Depot, Inc. (NYSE:HD) Shares Sold by PAX Financial Group LLC

PAX Financial Group LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 18.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,851 shares of the home improvement retailer’s stock after selling 655 shares during the period. PAX Financial Group LLC’s holdings in Home Depot were worth $1,045,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Asset Planning Services Inc. LA ADV raised its holdings in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Norges Bank acquired a new stake in shares of Home Depot during the fourth quarter valued at approximately $5,032,910,000. GAMMA Investing LLC raised its holdings in shares of Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Northern Trust Corp raised its holdings in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter valued at approximately $471,189,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

NYSE HD opened at $370.30 on Tuesday. 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 fifty day simple moving average of $366.32 and a 200 day simple moving average of $375.13. The company has a market cap of $368.42 billion, a P/E ratio of 25.12, a P/E/G ratio of 3.52 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted 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 firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.63 earnings per share. On average, sell-side analysts predict 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. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president directly 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 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 stock in a transaction 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 completion of the sale, the executive vice president directly owned 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. 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. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Truist Financial upped their price objective on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.