Russell Investments Group Ltd. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Russell Investments Group Ltd. lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 596,266 shares of the home improvement retailer’s stock after selling 15,123 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.06% of Home Depot worth $217,817,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Navigoe LLC bought a new position in Home Depot during the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new position in Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after buying an additional 46 shares during the last quarter. Quarry LP boosted its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock valued at $42,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.0%

Home Depot stock opened at $387.92 on Tuesday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. 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 company has a market cap of $385.95 billion, a PE ratio of 26.32, a PEG ratio of 3.69 and a beta of 1.00. The business’s 50-day simple moving average is $368.04 and its two-hundred day simple moving average is $371.78.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. 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 2.4%. Home Depot’s dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Mizuho lowered their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an “outperform” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. raised their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president owned 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were 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 owned 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.