Fourpath Capital Management LLC Has $3.11 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Fourpath Capital Management LLC decreased its stake in The Home Depot, Inc. (NYSE:HD) by 0.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,493 shares of the home improvement retailer’s stock after selling 59 shares during the quarter. Fourpath Capital Management LLC’s holdings in Home Depot were worth $3,112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC raised its stake in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its stake in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares during the last quarter. Mezzasalma Advisors LLC raised its stake in shares of Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after purchasing an additional 25 shares during the last quarter. Focused Wealth Management Inc raised its stake in shares of Home Depot by 2.4% in the fourth quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer’s stock worth $421,000 after purchasing an additional 25 shares during the last quarter. Finally, Tranquility Partners LLC raised its stake in shares of Home Depot by 1.1% in the fourth quarter. Tranquility Partners LLC now owns 2,306 shares of the home improvement retailer’s stock worth $897,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on HD shares. Wells Fargo & Company decreased their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. DA Davidson decreased their price target on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Down 0.6%

HD stock opened at $365.20 on Tuesday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The business’s 50 day moving average price is $361.51 and its two-hundred day moving average price is $384.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $363.35 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter last year, the company posted $3.63 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. Home Depot’s payout ratio is currently 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.