Tobam Has $321,000 Position in The Home Depot, Inc. (NYSE:HD)

Tobam reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 30.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 877 shares of the home improvement retailer’s stock after selling 383 shares during the quarter. Tobam’s holdings in Home Depot were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in HD. Navigoe LLC acquired a new position in Home Depot in the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at $32,000. Quarry LP increased its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the 4th quarter valued at $39,000. Finally, NewSquare Capital LLC increased its stake in shares of Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Robert W. Baird decreased their price target 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. Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company decreased their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, Truist Financial lifted their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Trading Up 0.7%

NYSE HD opened at $362.99 on Friday. The business’s 50-day moving average price is $362.33 and its two-hundred day moving average price is $383.33. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The firm has a market capitalization of $361.15 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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 analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the firm posted $3.63 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio is 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were 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 $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company 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.