Soltis Investment Advisors LLC Cuts Position in The Home Depot, Inc. (NYSE:HD)

Soltis Investment Advisors LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 37.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,219 shares of the home improvement retailer’s stock after selling 717 shares during the period. Soltis Investment Advisors LLC’s holdings in Home Depot were worth $365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rinkey Investments purchased a new position in Home Depot during the 4th quarter worth $25,000. Shore Point Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth about $26,000. Tobam acquired a new stake in Home Depot during the 1st quarter worth about $27,000. Fairfield Bush & CO. acquired a new stake in Home Depot during the 1st quarter worth about $27,000. Finally, Barnett & Company Inc. lifted its position in Home Depot by 173.1% during the 4th quarter. Barnett & Company Inc. now owns 71 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 45 shares during the period. 70.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Gordon Haskett cut Home Depot from a “buy” rating to an “accumulate” rating in a report on Friday, May 6th. Wedbush reduced their price target on Home Depot from $340.00 to $320.00 and set a “neutral” rating for the company in a report on Wednesday, May 18th. Citigroup upped their price target on Home Depot from $327.00 to $348.00 in a report on Friday, May 20th. Raymond James reduced their price target on Home Depot from $350.00 to $340.00 and set an “outperform” rating for the company in a report on Wednesday, May 18th. Finally, Truist Financial reduced their price target on Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $368.45.

Home Depot Stock Up 0.3 %

NYSE:HD opened at $307.17 on Friday. The stock’s fifty day moving average is $290.88 and its two-hundred day moving average is $311.12. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The stock has a market capitalization of $315.70 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99.

Home Depot (NYSE:HDGet Rating) last announced its quarterly earnings data on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.42. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $36.78 billion. Home Depot had a negative return on equity of 21,952.60% and a net margin of 10.83%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $3.86 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 16.39 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were paid a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Wednesday, June 1st. Home Depot’s payout ratio is currently 48.25%.

Insider Activity

In other news, EVP Hector A. Padilla sold 136 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $289.23, for a total value of $39,335.28. Following the sale, the executive vice president now directly owns 11,230 shares in the company, valued at $3,248,052.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Ann Marie Campbell sold 11,293 shares of the stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total value of $3,252,722.79. Following the transaction, the executive vice president now owns 51,175 shares of the company’s stock, valued at $14,739,935.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Hector A. Padilla sold 136 shares of the stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total value of $39,335.28. Following the completion of the transaction, the executive vice president now directly owns 11,230 shares in the company, valued at approximately $3,248,052.90. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HDGet Rating).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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