IFP Advisors Inc Sells 2,323 Shares of The Home Depot, Inc. (NYSE:HD)

IFP Advisors Inc lowered its position in The Home Depot, Inc. (NYSE:HD) by 7.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,129 shares of the home improvement retailer’s stock after selling 2,323 shares during the quarter. IFP Advisors Inc’s holdings in Home Depot were worth $9,945,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HD. Aspen Capital Management LLC acquired a new position in shares of Home Depot in the 1st quarter worth approximately $227,000. OneAscent Financial Services LLC raised its holdings in shares of Home Depot by 108.8% in the 1st quarter. OneAscent Financial Services LLC now owns 12,558 shares of the home improvement retailer’s stock worth $4,596,000 after buying an additional 6,544 shares in the last quarter. Counterweight Ventures LLC raised its holdings in shares of Home Depot by 2.2% in the 1st quarter. Counterweight Ventures LLC now owns 7,639 shares of the home improvement retailer’s stock worth $2,800,000 after buying an additional 166 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of Home Depot in the 1st quarter worth approximately $1,653,000. Finally, OneAscent Family Office LLC raised its holdings in shares of Home Depot by 146.7% in the 1st quarter. OneAscent Family Office LLC now owns 2,758 shares of the home improvement retailer’s stock worth $1,010,000 after buying an additional 1,640 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $359.32 on Friday. The firm has a market cap of $357.50 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 3.42 and a beta of 1.00. The stock’s 50-day moving average is $366.03 and its 200-day moving average is $374.38. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. 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 released its 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 return on equity of 242.51% and a net margin of 8.98%. 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 company posted $3.63 EPS. The business’s revenue was up 9.4% on a year-over-year basis. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 sale, the executive vice president owned 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HD. TD Securities cut Home Depot to a “buy” rating in a report on Monday, June 2nd. Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Robert W. Baird lowered their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Piper Sandler lowered their target price 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. Finally, Royal Bank Of Canada lowered their target price 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. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $426.77.

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.