SVB Wealth LLC Cuts Position in The Home Depot, Inc. (NYSE:HD)

SVB Wealth LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 18.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,088 shares of the home improvement retailer’s stock after selling 26,199 shares during the period. Home Depot comprises approximately 1.0% of SVB Wealth LLC’s portfolio, making the stock its 16th largest position. SVB Wealth LLC’s holdings in Home Depot were worth $39,190,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. BCK Partners Inc. bought a new stake in Home Depot in the first quarter worth $2,933,000. Fairfield Bush & CO. bought a new stake in Home Depot in the first quarter worth $27,000. Ergoteles LLC bought a new stake in Home Depot in the first quarter worth $1,554,000. Equitable Holdings Inc. lifted its stake in Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer’s stock worth $4,379,000 after purchasing an additional 1,007 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Home Depot by 3.2% during the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer’s stock valued at $236,865,000 after acquiring an additional 24,640 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. Wedbush upped their price objective on shares of Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Truist Financial upped their price objective on shares of Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Bank of America upped their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Mizuho initiated coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target for the company. Finally, Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $375.96.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Trading Down 0.9 %

NYSE:HD opened at $334.83 on Wednesday. The company’s 50 day moving average price is $369.14 and its 200-day moving average price is $339.05. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The stock has a market cap of $331.82 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.25 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. During the same quarter in the prior year, the company posted $3.30 earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.69%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

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.