Olde Wealth Management LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Olde Wealth Management LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,371 shares of the home improvement retailer’s stock after selling 45 shares during the quarter. Olde Wealth Management LLC’s holdings in Home Depot were worth $1,235,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in HD. Navigoe LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $29,000. Quarry LP boosted its stake in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $39,000. Spurstone Advisory Services LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $45,000. Finally, Vega Investment Solutions acquired a new stake in shares of Home Depot during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Jefferies Financial Group decreased their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Gordon Haskett raised their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Robert W. Baird decreased their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred 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 sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred 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 sale, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot Trading Down 0.1%

NYSE HD opened at $371.36 on Friday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company’s 50 day moving average price is $365.14 and its 200 day moving average price is $376.33. 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 firm has a market capitalization of $369.47 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 3.53 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.63 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. Home Depot’s dividend payout ratio is currently 62.42%.

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.