The Home Depot, Inc. (NYSE:HD) Shares Sold by Phoenix Wealth Advisors

Phoenix Wealth Advisors cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,780 shares of the home improvement retailer’s stock after selling 341 shares during the period. Home Depot makes up approximately 2.4% of Phoenix Wealth Advisors’ investment portfolio, making the stock its 9th biggest position. Phoenix Wealth Advisors’ holdings in Home Depot were worth $3,375,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Morgan Stanley grew its holdings in shares of Home Depot by 10.0% in the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after purchasing an additional 1,698,402 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Home Depot by 1.3% in the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after purchasing an additional 153,141 shares in the last quarter. Norges Bank acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC grew its holdings in shares of Home Depot by 105,205.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after purchasing an additional 10,984,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after purchasing an additional 1,361,660 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Truist Financial reiterated a “buy” rating and set a $417.00 price target on shares of Home Depot in a report on Wednesday. Evercore ISI lowered their price target on shares of Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, TD Cowen boosted their price target on shares of Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Stock Down 0.6 %

Shares of NYSE:HD opened at $332.83 on Thursday. The firm has a 50 day simple moving average of $368.54 and a 200-day simple moving average of $339.01. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company has a market capitalization of $329.84 billion, a PE ratio of 22.04, a P/E/G ratio of 2.23 and a beta of 0.98. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. Home Depot’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.70%. Home Depot’s dividend payout ratio is 59.60%.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by 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.