Financial Perspectives Inc Reduces Position in The Home Depot, Inc. (NYSE:HD)

Financial Perspectives Inc decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,770 shares of the home improvement retailer’s stock after selling 144 shares during the quarter. Financial Perspectives Inc’s holdings in Home Depot were worth $613,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Keener Financial Planning LLC bought a new stake in Home Depot during the fourth quarter valued at approximately $31,000. PFG Private Wealth Management LLC boosted its position in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 32 shares during the last quarter. Gilfoyle & Co LLC purchased a new position in Home Depot during the fourth quarter valued at $35,000. Briaud Financial Planning Inc purchased a new stake in Home Depot in the 3rd quarter worth $41,000. Finally, Quantbot Technologies LP purchased a new position in shares of Home Depot during the third quarter valued at about $64,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Stock Down 1.8 %

Shares of HD traded down $6.14 during mid-day trading on Wednesday, hitting $332.86. The company’s stock had a trading volume of 1,956,903 shares, compared to its average volume of 3,332,910. The firm has a market capitalization of $329.87 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 2.24 and a beta of 0.98. The company’s 50-day moving average is $366.40 and its 200-day moving average is $340.51. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. During the same period last year, the business posted $3.30 EPS. The business’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is 59.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Oppenheimer cut Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Telsey Advisory Group lifted their price objective on shares of Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a research note on Monday, April 1st. Wells Fargo & Company upped their target price on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, February 13th. Finally, StockNews.com upgraded Home Depot from a “hold” rating to a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $375.96.

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.