Soltis Investment Advisors LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Soltis Investment Advisors LLC reduced its stake in The Home Depot, Inc. (NYSE:HDGet Rating) by 37.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,219 shares of the home improvement retailer’s stock after selling 717 shares during the period. Soltis Investment Advisors LLC’s holdings in Home Depot were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. SouthState Corp grew its stake in shares of Home Depot by 1.9% in the first quarter. SouthState Corp now owns 55,987 shares of the home improvement retailer’s stock worth $16,759,000 after acquiring an additional 1,049 shares during the last quarter. Mmbg Investment Advisors CO. lifted its holdings in shares of Home Depot by 421.8% during the first quarter. Mmbg Investment Advisors CO. now owns 33,290 shares of the home improvement retailer’s stock valued at $6,478,000 after purchasing an additional 26,910 shares in the last quarter. Cordatus Wealth Management LLC lifted its holdings in Home Depot by 3.2% in the first quarter. Cordatus Wealth Management LLC now owns 1,308 shares of the home improvement retailer’s stock valued at $392,000 after acquiring an additional 41 shares during the period. Omnia Family Wealth LLC lifted its holdings in Home Depot by 3.7% in the first quarter. Omnia Family Wealth LLC now owns 1,469 shares of the home improvement retailer’s stock valued at $440,000 after acquiring an additional 52 shares during the period. Finally, Fairfield Bush & CO. bought a new position in Home Depot in the first quarter valued at about $27,000. 70.61% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

NYSE:HD opened at $307.17 on Friday. The firm has a market capitalization of $315.70 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.00 and a beta of 0.99. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. The business has a 50 day simple moving average of $290.88 and a 200-day simple moving average of $311.12.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings data on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.42. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $36.78 billion. Home Depot had a negative return on equity of 21,952.60% and a net margin of 10.83%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $3.86 EPS. As a group, analysts expect that The Home Depot, Inc. will post 16.39 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Wednesday, June 1st. Home Depot’s dividend payout ratio is currently 48.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Gordon Haskett downgraded Home Depot from a “buy” rating to an “accumulate” rating in a report on Friday, May 6th. Wells Fargo & Company lowered their target price on Home Depot from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Thursday, April 7th. Guggenheim lowered their target price on Home Depot from $400.00 to $350.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Piper Sandler upped their price target on Home Depot from $310.00 to $321.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 18th. Finally, Morgan Stanley reduced their price target on Home Depot from $365.00 to $350.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $368.45.

Insider Buying and Selling

In related news, EVP Ann Marie Campbell sold 11,293 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the completion of the sale, the executive vice president now directly owns 51,175 shares of the company’s stock, valued at approximately $14,739,935.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ann Marie Campbell sold 11,293 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total transaction of $3,252,722.79. Following the completion of the sale, the executive vice president now directly owns 51,175 shares of the company’s stock, valued at approximately $14,739,935.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Hector A. Padilla sold 136 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $289.23, for a total value of $39,335.28. Following the sale, the executive vice president now directly owns 11,230 shares of the company’s stock, valued at $3,248,052.90. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Home Depot Company Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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