Weatherly Asset Management L. P. Sells 1,025 Shares of The Home Depot, Inc. (NYSE:HD)

Weatherly Asset Management L. P. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,419 shares of the home improvement retailer’s stock after selling 1,025 shares during the quarter. Home Depot comprises about 1.5% of Weatherly Asset Management L. P.’s investment portfolio, making the stock its 18th biggest position. Weatherly Asset Management L. P.’s holdings in Home Depot were worth $14,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC increased its stake in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the period. Gilfoyle & Co LLC bought a new stake in Home Depot during the 4th quarter valued at about $35,000. Briaud Financial Planning Inc bought a new position in Home Depot in the 3rd quarter worth about $41,000. Finally, Quantbot Technologies LP purchased a new position in shares of Home Depot during the third quarter worth approximately $64,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD stock traded down $6.14 during trading hours on Wednesday, hitting $332.86. 1,956,903 shares of the company’s stock were exchanged, compared to its average volume of 3,332,910. The firm has a market cap of $329.87 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.24 and a beta of 0.98. The firm has a 50 day moving average of $366.40 and a two-hundred day moving average of $340.51. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the previous year, the company earned $3.30 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio is 59.60%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HD. Mizuho assumed coverage on Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target for the company. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and raised their price target for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. HSBC reiterated a “reduce” rating and set a $323.00 target price on shares of Home Depot in a report on Wednesday, April 3rd. Truist Financial reaffirmed a “buy” rating and issued a $417.00 price target on shares of Home Depot in a research report on Wednesday, April 17th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $370.00 price objective on shares of Home Depot in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Transactions at Home Depot

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