Financial Perspectives Inc Sells 52 Shares of The Home Depot, Inc. (NYSE:HD)

Financial Perspectives Inc decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% during the first quarter, HoldingsChannel reports. The fund owned 1,774 shares of the home improvement retailer’s stock after selling 52 shares during the quarter. Financial Perspectives Inc’s holdings in Home Depot were worth $650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of HD. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. Geode Capital Management LLC increased its holdings in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the period. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth $5,032,910,000. Capital Research Global Investors increased its holdings in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $348.74 on Wednesday. The company has a 50-day simple moving average of $363.01 and a two-hundred day simple moving average of $381.43. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. 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 cap of $346.97 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 3.36 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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 net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HD shares. Piper Sandler decreased their price target on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Truist Financial upped their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Royal Bank Of Canada reduced their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. Finally, Robert W. Baird reduced their target price 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. 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, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’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 completion of the sale, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot 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.