The Home Depot, Inc. (NYSE:HD) Position Trimmed by Connectus Wealth LLC

Connectus Wealth LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 24.5% during the 1st quarter, HoldingsChannel reports. The fund owned 40,668 shares of the home improvement retailer’s stock after selling 13,174 shares during the period. Connectus Wealth LLC’s holdings in Home Depot were worth $17,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sky Investment Group LLC grew its stake in Home Depot by 3.4% during the 1st quarter. Sky Investment Group LLC now owns 21,198 shares of the home improvement retailer’s stock valued at $6,345,000 after acquiring an additional 703 shares in the last quarter. Everhart Financial Group Inc. grew its stake in shares of Home Depot by 28.5% in the 1st quarter. Everhart Financial Group Inc. now owns 2,062 shares of the home improvement retailer’s stock valued at $617,000 after buying an additional 457 shares in the last quarter. Diversified LLC grew its stake in shares of Home Depot by 1.5% in the 1st quarter. Diversified LLC now owns 3,257 shares of the home improvement retailer’s stock valued at $975,000 after buying an additional 47 shares in the last quarter. Matisse Capital grew its stake in shares of Home Depot by 3.9% in the 1st quarter. Matisse Capital now owns 2,664 shares of the home improvement retailer’s stock valued at $797,000 after buying an additional 100 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Home Depot by 4.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,961 shares of the home improvement retailer’s stock valued at $1,186,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.

Insider Activity

In other news, EVP Ann Marie Campbell sold 11,293 shares of the business’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 sale, the executive vice president now directly owns 51,175 shares in the company, valued at $14,739,935.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Home Depot news, EVP Hector A. Padilla sold 136 shares of the company’s stock in a transaction 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 in the company, valued at $3,248,052.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 11,293 shares of the company’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total value of $3,252,722.79. Following the completion of the sale, the executive vice president now owns 51,175 shares in the company, valued at $14,739,935.25. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on HD. DA Davidson lowered their price target on Home Depot from $354.00 to $330.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Piper Sandler boosted their price target on Home Depot from $310.00 to $321.00 and gave the company a “neutral” rating in a research note on Wednesday, May 18th. Gordon Haskett cut Home Depot from a “buy” rating to an “accumulate” rating in a research note on Friday, May 6th. Raymond James lowered their price target on Home Depot from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Wednesday, May 18th. Finally, Evercore ISI reduced their target price on Home Depot to $360.00 in a report on Thursday, June 9th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $368.45.

Home Depot Stock Up 0.8 %

Shares of HD stock opened at $309.69 on Friday. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61. The firm has a market cap of $318.29 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99. The stock has a 50 day moving average of $290.90 and a 200-day moving average of $310.73.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $3.67 by $0.42. Home Depot had a negative return on equity of 21,952.60% and a net margin of 10.83%. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $36.78 billion. During the same period in the previous year, the company earned $3.86 earnings per share. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that The Home Depot, Inc. will post 16.43 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were given a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Wednesday, June 1st. Home Depot’s dividend payout ratio is presently 48.25%.

About Home Depot

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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

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

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