Marcum Wealth LLC Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Marcum Wealth LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 7.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,316 shares of the home improvement retailer’s stock after selling 496 shares during the period. Marcum Wealth LLC’s holdings in Home Depot were worth $2,315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HD. K.J. Harrison & Partners Inc lifted its stake in shares of Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after buying an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. bought a new position in Home Depot in the fourth quarter worth approximately $409,000. JPL Wealth Management LLC bought a new position in Home Depot in the fourth quarter worth approximately $3,193,000. Finally, Umpqua Bank boosted its stake in shares of Home Depot by 26.5% during the 4th quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock worth $2,425,000 after acquiring an additional 1,294 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Gordon Haskett boosted their price objective on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Stock Performance

Shares of NYSE:HD opened at $367.81 on Thursday. The firm has a fifty day simple moving average of $360.70 and a two-hundred day simple moving average of $386.56. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $365.61 billion, a P/E ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the prior year, the business posted $3.63 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is 62.42%.

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.