Northeast Investment Management Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Northeast Investment Management decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,861 shares of the home improvement retailer’s stock after selling 232 shares during the quarter. Northeast Investment Management’s holdings in Home Depot were worth $4,713,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. K.J. Harrison & Partners Inc grew its holdings in shares of Home Depot by 65.2% during the fourth 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 last quarter. Wealth Management Partners LLC grew its holdings in shares of Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after purchasing an additional 36 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of 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 worth $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of Home Depot during the fourth quarter worth about $409,000. Finally, ARS Wealth Advisors Group LLC grew its holdings in shares of Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after purchasing an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.8%

Shares of Home Depot stock opened at $368.15 on Wednesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a market capitalization of $366.28 billion, a P/E ratio of 25.01, a P/E/G ratio of 4.03 and a beta of 1.02. The business has a 50 day moving average price of $361.75 and a 200 day moving average price of $383.94.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (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 for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HD. Piper Sandler dropped their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Buying and Selling

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business’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 transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction 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 owns 17,367 shares of the company’s stock, 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. Insiders own 0.10% of the company’s stock.

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.