New Capital Management LP Cuts Stake in The Home Depot, Inc. (NYSE:HD)

New Capital Management LP reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 94.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 772 shares of the home improvement retailer’s stock after selling 13,503 shares during the quarter. New Capital Management LP’s holdings in Home Depot were worth $296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bare Financial Services Inc bought a new position in shares of Home Depot during the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in Home Depot in the fourth quarter worth $27,000. Keener Financial Planning LLC bought a new stake in Home Depot in the fourth quarter worth $31,000. PFG Private Wealth Management LLC lifted its position in Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in Home Depot in the fourth quarter worth $35,000. 70.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Performance

Shares of Home Depot stock opened at $353.57 on Friday. The company has a market capitalization of $350.60 billion, a PE ratio of 23.71, a P/E/G ratio of 2.44 and a beta of 1.00. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The company has a 50-day simple moving average of $337.38 and a two-hundred day simple moving average of $351.80. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.82 earnings per share. Research analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.55%. Home Depot’s dividend payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. TD Cowen lowered their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Finally, Truist Financial lowered their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen 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 price target of $377.46.

About Home Depot

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.