The Home Depot, Inc. (NYSE:HD) Shares Sold by Global Wealth Strategies & Associates

Global Wealth Strategies & Associates lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 13.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 428 shares of the home improvement retailer’s stock after selling 65 shares during the period. Global Wealth Strategies & Associates’ holdings in Home Depot were worth $157,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at $28,000. Navigoe LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $32,000. Finally, Quarry LP raised its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This 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 accessible through this link. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Robert W. Baird reduced their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Jefferies Financial Group dropped their target price on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Seven research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Stock Performance

Shares of HD stock opened at $367.81 on Thursday. The stock’s 50-day moving average is $360.70 and its two-hundred day moving average is $386.56. The firm has a market cap of $365.61 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share 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 business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the company posted $3.63 EPS. Home Depot’s quarterly revenue was up 9.4% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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

Home Depot Company Profile

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.