The Home Depot, Inc. (NYSE:HD) is Successful Portfolios LLC’s 10th Largest Position

Successful Portfolios LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,186 shares of the home improvement retailer’s stock after selling 151 shares during the period. Home Depot makes up about 1.9% of Successful Portfolios LLC’s holdings, making the stock its 10th biggest position. Successful Portfolios LLC’s holdings in Home Depot were worth $2,757,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HD. Cape Investment Advisory Inc. increased its position in Home Depot by 1.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after purchasing an additional 28 shares during the period. Optas LLC increased its holdings in Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after buying an additional 29 shares during the period. STAR Financial Bank raised its stake in Home Depot by 0.7% in the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after buying an additional 29 shares in the last quarter. Harvest Investment Advisors LLC boosted its position in Home Depot by 0.8% during the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after acquiring an additional 30 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. increased its holdings in shares of Home Depot by 0.3% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after acquiring an additional 30 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE:HD opened at $344.24 on Monday. 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 stock has a market capitalization of $341.35 billion, a PE ratio of 23.09, a P/E/G ratio of 2.38 and a beta of 0.99. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a fifty day moving average of $338.51 and a two-hundred day moving average of $352.80.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Citigroup dropped their price target on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Wedbush reiterated an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research note on Friday, May 10th. Truist Financial cut their price objective on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Tuesday, May 14th. Finally, Raymond James reiterated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

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.