Financial Partners Group LLC Has $4.82 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Financial Partners Group LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,150 shares of the home improvement retailer’s stock after selling 919 shares during the quarter. Home Depot accounts for 2.1% of Financial Partners Group LLC’s portfolio, making the stock its 17th largest position. Financial Partners Group LLC’s holdings in Home Depot were worth $4,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. Broderick Brian C boosted its position in Home Depot by 0.3% during the 1st quarter. Broderick Brian C now owns 35,858 shares of the home improvement retailer’s stock worth $13,142,000 after acquiring an additional 122 shares during the period. Lion Street Advisors LLC lifted its position in shares of Home Depot by 2.9% in the first quarter. Lion Street Advisors LLC now owns 1,382 shares of the home improvement retailer’s stock worth $506,000 after purchasing an additional 39 shares in the last quarter. Bender Robert & Associates boosted its holdings in shares of Home Depot by 4.3% during the first quarter. Bender Robert & Associates now owns 9,153 shares of the home improvement retailer’s stock worth $3,354,000 after purchasing an additional 374 shares during the period. Shepherd Financial Partners LLC boosted its holdings in shares of Home Depot by 1.5% during the first quarter. Shepherd Financial Partners LLC now owns 9,505 shares of the home improvement retailer’s stock worth $3,483,000 after purchasing an additional 144 shares during the period. Finally, Cushing Capital Partners LLC grew its position in Home Depot by 8.7% during the first quarter. Cushing Capital Partners LLC now owns 2,178 shares of the home improvement retailer’s stock valued at $798,000 after purchasing an additional 175 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 1.4%

Home Depot stock opened at $348.74 on Wednesday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a fifty day moving average price of $363.01 and a two-hundred day moving average price of $381.43. The firm has a market cap of $346.97 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 3.36 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 earnings per share. The company’s revenue for the quarter 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 year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.64%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating on shares of Home Depot in a research note on Monday, June 2nd. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price 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. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Piper Sandler reduced their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Seven 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $426.77.

Insider Activity

In other Home Depot 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 completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at $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 is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

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.