BankPlus Wealth Management LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

BankPlus Wealth Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,813 shares of the home improvement retailer’s stock after selling 60 shares during the period. BankPlus Wealth Management LLC’s holdings in Home Depot were worth $664,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HD. Crown Wealth Group LLC raised its position in Home Depot by 5.6% during the first quarter. Crown Wealth Group LLC now owns 1,185 shares of the home improvement retailer’s stock worth $434,000 after acquiring an additional 63 shares during the last quarter. Guerra Advisors Inc increased its stake in shares of Home Depot by 24.6% during the 1st quarter. Guerra Advisors Inc now owns 6,020 shares of the home improvement retailer’s stock worth $2,206,000 after purchasing an additional 1,190 shares in the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Home Depot by 0.3% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 12,863 shares of the home improvement retailer’s stock worth $4,714,000 after purchasing an additional 39 shares in the last quarter. Naviter Wealth LLC increased its position in Home Depot by 0.9% during the first quarter. Naviter Wealth LLC now owns 11,251 shares of the home improvement retailer’s stock worth $4,030,000 after buying an additional 101 shares in the last quarter. Finally, Emerald Advisors LLC increased its position in Home Depot by 9.5% during the first quarter. Emerald Advisors LLC now owns 3,820 shares of the home improvement retailer’s stock worth $1,400,000 after buying an additional 331 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HD. TD Securities cut Home Depot to a “buy” rating in a research report on Monday, June 2nd. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, DA Davidson lowered their price objective on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Home Depot Stock Performance

Shares of HD opened at $368.36 on Friday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a market cap of $366.49 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 3.51 and a beta of 1.02. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The firm has a fifty day moving average of $363.55 and a 200-day moving average of $377.53.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the firm posted $3.63 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction 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 sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on 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 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. 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.