Carmignac Gestion Lowers Position in The Home Depot, Inc. $HD

Carmignac Gestion trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 24.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 39,104 shares of the home improvement retailer’s stock after selling 12,843 shares during the quarter. Carmignac Gestion’s holdings in Home Depot were worth $14,294,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HD. Navigoe LLC purchased a new position in Home Depot during the fourth quarter valued at $29,000. Abound Financial LLC bought a new stake in Home Depot during the first quarter valued at about $31,000. Quarry LP boosted its stake 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. Iron Horse Wealth Management LLC boosted its stake in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 46 shares during the period. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock worth $42,000 after buying an additional 30 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly 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 disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $433.00 price objective (up previously from $417.00) on shares of Home Depot in a research note on Wednesday, August 13th. Jefferies Financial Group cut their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Sanford C. Bernstein reiterated a “market perform” rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, TD Securities cut Home Depot to a “buy” rating in a research note on Monday, June 2nd. Six equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $427.76.

Home Depot Trading Down 1.2%

Shares of NYSE:HD opened at $394.68 on Tuesday. The stock’s 50-day simple moving average is $371.05 and its two-hundred day simple moving average is $371.19. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. 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 capitalization of $392.68 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.80 and a beta of 1.00.

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 analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the firm earned $3.63 EPS. Home Depot’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot’s dividend payout ratio is presently 62.42%.

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.