Hudson Valley Investment Advisors Inc. ADV Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Hudson Valley Investment Advisors Inc. ADV lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 8.2% during the first quarter, HoldingsChannel reports. The firm owned 23,213 shares of the home improvement retailer’s stock after selling 2,061 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Home Depot were worth $8,507,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter worth $28,000. Navigoe LLC bought a new stake in shares of Home Depot in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth $32,000. Quarry LP increased 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 buying an additional 66 shares during the last quarter. Finally, Marshall Investment Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated 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 sale, the executive vice president now owns 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 disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $367.45 on Friday. The Home Depot, Inc. has a 1 year low of $323.93 and a 1 year high of $439.37. The company has a market cap of $365.59 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a fifty day moving average of $361.63 and a 200-day moving average of $384.72.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the firm posted $3.63 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HD shares. Piper Sandler dropped their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Mizuho dropped their price target on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a report on Monday. Finally, Jefferies Financial Group decreased their price objective on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Seven equities research 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 presently has an average 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.