The Home Depot, Inc. (NYSE:HD) Shares Sold by IPG Investment Advisors LLC

IPG Investment Advisors LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,637 shares of the home improvement retailer’s stock after selling 300 shares during the period. IPG Investment Advisors LLC’s holdings in Home Depot were worth $2,432,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Invst LLC boosted its stake in shares of Home Depot by 0.4% during the fourth quarter. Invst LLC now owns 6,738 shares of the home improvement retailer’s stock valued at $2,621,000 after acquiring an additional 28 shares during the last quarter. Financial Insights Inc. boosted its stake in Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer’s stock worth $323,000 after buying an additional 28 shares during the last quarter. Wayfinding Financial LLC boosted its stake in Home Depot by 1.2% in the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer’s stock worth $862,000 after buying an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC boosted its stake in Home Depot by 4.7% in the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer’s stock worth $228,000 after buying an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its stake in Home Depot by 0.3% in the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer’s stock worth $3,306,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE:HD opened at $373.55 on Monday. The company has a market cap of $371.66 billion, a P/E ratio of 25.34, a PEG ratio of 3.55 and a beta of 1.00. 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 Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The business’s 50-day simple moving average is $365.84 and its 200 day simple moving average is $372.91.

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). The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.5%. Home Depot’s payout ratio is currently 62.42%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 directly owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred 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 in the company, valued at $2,919,130.14. This represents 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 owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on HD. Jefferies Financial Group decreased their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. TD Securities lowered Home Depot to a “buy” rating in a research note on Monday, June 2nd. Robert W. Baird decreased their price target on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Truist Financial raised their price target on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $426.77.

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.