Phillips Wealth Planners LLC Trims Position in The Home Depot, Inc. (NYSE:HD)

Phillips Wealth Planners LLC cut its position in The Home Depot, Inc. (NYSE:HD) by 12.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,175 shares of the home improvement retailer’s stock after selling 436 shares during the period. Home Depot comprises 1.2% of Phillips Wealth Planners LLC’s portfolio, making the stock its 17th largest holding. Phillips Wealth Planners LLC’s holdings in Home Depot were worth $1,124,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Wealth Group Ltd. grew its stake in Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after acquiring an additional 27 shares in the last quarter. Brighton Jones LLC grew its stake in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares in the last quarter. Snider Financial Group grew its stake in Home Depot by 90.7% during the fourth quarter. Snider Financial Group now owns 1,436 shares of the home improvement retailer’s stock valued at $559,000 after acquiring an additional 683 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock valued at $4,747,000 after acquiring an additional 565 shares in the last quarter. Finally, FFT Wealth Management LLC grew its stake in shares of Home Depot by 12.6% in the 4th quarter. FFT Wealth Management LLC now owns 785 shares of the home improvement retailer’s stock worth $305,000 after buying an additional 88 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In other news, 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 sale, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction 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 approximately $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 currently owned by company insiders.

Home Depot Trading Up 0.4%

Shares of HD opened at $361.96 on Thursday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a 50-day moving average of $363.10 and a 200 day moving average of $378.66. The firm has a market capitalization of $360.12 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 3.43 and a beta of 1.02. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the business earned $3.63 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.54%. Home Depot’s payout ratio is 62.42%.

Wall Street Analyst Weigh In

A number of brokerages have commented on HD. Gordon Haskett lifted their price objective on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Truist Financial lifted their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group dropped their price objective on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

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.