Tandem Investment Advisors Inc. Sells 1,363 Shares of The Home Depot, Inc. (NYSE:HD)

Tandem Investment Advisors Inc. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 48.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,472 shares of the home improvement retailer’s stock after selling 1,363 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Home Depot were worth $510,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HD. Fairfield Bush & CO. acquired a new position in Home Depot in the first quarter valued at approximately $27,000. KB Financial Partners LLC acquired a new position in shares of Home Depot during the first quarter valued at about $28,000. Keener Financial Planning LLC bought a new position in shares of Home Depot during the 4th quarter worth about $31,000. PFG Private Wealth Management LLC grew its stake in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares during the period. Finally, Studio Investment Management LLC bought a new stake in Home Depot in the 4th quarter valued at about $32,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Shares of NYSE:HD opened at $332.89 on Friday. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The stock has a market cap of $329.90 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.22 and a beta of 0.98. The company has a 50 day moving average of $367.92 and a 200 day moving average of $338.97.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. Home Depot’s payout ratio is presently 59.60%.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’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 completion of the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HD shares. The Goldman Sachs Group raised their price objective on Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. Stifel Nicolaus boosted their price target on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research note on Friday, February 16th. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $311.00 to $400.00 in a report on Tuesday, January 16th. Citigroup boosted their target price on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Telsey Advisory Group raised their price target on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $375.96.

About Home Depot

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.