Coastal Investment Advisors Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,629 shares of the home improvement retailer’s stock after selling 457 shares during the period. Coastal Investment Advisors Inc.’s holdings in Home Depot were worth $2,283,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in HD. Norges Bank bought a new stake in shares of Home Depot during the 4th quarter valued at $4,325,629,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $440,559,000. Jennison Associates LLC raised its position in shares of Home Depot by 21.1% during the 4th quarter. Jennison Associates LLC now owns 4,823,391 shares of the home improvement retailer’s stock valued at $2,001,755,000 after purchasing an additional 840,033 shares during the period. Geode Capital Management LLC raised its position in shares of Home Depot by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 16,921,581 shares of the home improvement retailer’s stock valued at $7,002,662,000 after purchasing an additional 701,811 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in Home Depot by 11.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 5,903,692 shares of the home improvement retailer’s stock valued at $1,937,946,000 after acquiring an additional 605,827 shares during the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.
In related news, Director Becker Caryn Seidman acquired 1,500 shares of the stock in a transaction on Monday, May 23rd. The stock was bought at an average cost of $287.73 per share, with a total value of $431,595.00. Following the transaction, the director now directly owns 1,500 shares in the company, valued at $431,595. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 11,293 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were 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 $14,739,935.25. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.
HD stock opened at $283.00 on Friday. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $420.61. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 35.47. The company has a 50-day moving average price of $294.61 and a 200 day moving average price of $332.71. The stock has a market cap of $290.85 billion, a PE ratio of 17.97, a P/E/G ratio of 1.61 and a beta of 0.97.
Home Depot (NYSE:HD – Get Rating) last released 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 net margin of 10.83% and a negative return on equity of 21,952.16%. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $36.78 billion. During the same period in the previous year, the company earned $3.86 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 16.47 EPS for the current year.
The company 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. The ex-dividend date was Wednesday, June 1st. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.69%. Home Depot’s dividend payout ratio is presently 48.25%.
HD has been the topic of a number of research reports. Truist Financial reduced their price target on shares of Home Depot from $405.00 to $375.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Wells Fargo & Company reduced their price target on shares of Home Depot from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Thursday, April 7th. OTR Global downgraded shares of Home Depot to a “positive” rating in a report on Tuesday, May 10th. DA Davidson reduced their price target on shares of Home Depot from $354.00 to $330.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Finally, Guggenheim reduced their price target on shares of Home Depot from $400.00 to $350.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.82.
Home Depot Company Profile (Get Rating)
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.
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