Houlihan Financial Resource Group Ltd. Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Houlihan Financial Resource Group Ltd. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 7.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 971 shares of the home improvement retailer’s stock after selling 80 shares during the period. Houlihan Financial Resource Group Ltd.’s holdings in Home Depot were worth $356,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC grew its holdings in Home Depot by 1.4% during the 1st quarter. Meridian Wealth Management LLC now owns 34,499 shares of the home improvement retailer’s stock valued at $12,644,000 after purchasing an additional 489 shares during the last quarter. Operose Advisors LLC grew its holdings in Home Depot by 11.2% during the 1st quarter. Operose Advisors LLC now owns 2,538 shares of the home improvement retailer’s stock valued at $930,000 after purchasing an additional 256 shares during the last quarter. Cove Private Wealth LLC grew its holdings in Home Depot by 12.7% during the 1st quarter. Cove Private Wealth LLC now owns 8,689 shares of the home improvement retailer’s stock valued at $3,184,000 after purchasing an additional 981 shares during the last quarter. SouthState Corp grew its holdings in Home Depot by 2.4% during the 1st quarter. SouthState Corp now owns 57,932 shares of the home improvement retailer’s stock valued at $21,232,000 after purchasing an additional 1,385 shares during the last quarter. Finally, CCM Investment Group LLC bought a new position in Home Depot during the 1st quarter valued at about $6,997,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $387.77 on Monday. The company has a 50 day moving average price of $367.64 and a 200-day moving average price of $371.97. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market capitalization of $385.80 billion, a PE ratio of 26.31, a PEG ratio of 3.69 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.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share 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 during the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the previous year, the company posted $3.63 EPS. Home Depot’s revenue for the quarter 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 disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HD shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an “outperform” rating in a report on Thursday, May 22nd. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Jefferies Financial Group cut their price target on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada cut their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s 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 transaction, the executive vice president owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.