Bull Street Advisors LLC Sells 38 Shares of The Home Depot, Inc. (NYSE:HD)

Bull Street Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,419 shares of the home improvement retailer’s stock after selling 38 shares during the period. Home Depot accounts for approximately 3.1% of Bull Street Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Bull Street Advisors LLC’s holdings in Home Depot were worth $6,384,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter worth $29,000. Quarry LP increased its position in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the fourth quarter worth $39,000. NewSquare Capital LLC grew its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Spurstone Advisory Services LLC bought a new position in shares of Home Depot in the fourth quarter worth $45,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Friday, June 20th. Sanford C. Bernstein reissued a “market perform” rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Seven equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Trading Up 1.3%

Shares of NYSE HD opened at $368.36 on Friday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market cap of $366.49 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 3.46 and a beta of 1.02. 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 business has a fifty day simple moving average of $363.55 and a 200-day simple moving average of $377.83.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 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 company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the prior year, the company 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 predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio is 62.42%.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the 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 completion of the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently 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.