The Home Depot, Inc. (NYSE:HD) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 24.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,668 shares of the home improvement retailer’s stock after selling 13,174 shares during the quarter. Connectus Wealth LLC’s holdings in Home Depot were worth $17,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Qube Research & Technologies Ltd acquired a new position in Home Depot in the fourth quarter worth $1,868,000. Yarbrough Capital LLC acquired a new position in Home Depot in the fourth quarter worth $8,212,000. Round Table Services LLC boosted its holdings in Home Depot by 19.6% in the fourth quarter. Round Table Services LLC now owns 2,851 shares of the home improvement retailer’s stock worth $1,183,000 after purchasing an additional 468 shares during the period. Waddell & Associates LLC boosted its holdings in Home Depot by 1.3% in the fourth quarter. Waddell & Associates LLC now owns 9,093 shares of the home improvement retailer’s stock worth $3,774,000 after purchasing an additional 117 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Home Depot by 0.5% in the fourth quarter. Fifth Third Bancorp now owns 1,035,353 shares of the home improvement retailer’s stock worth $429,682,000 after purchasing an additional 4,789 shares during the period. Institutional investors and hedge funds own 70.61% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Evercore ISI decreased their price objective on shares of Home Depot to $360.00 in a report on Thursday, June 9th. Morgan Stanley decreased their price objective on shares of Home Depot from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Truist Financial decreased their price objective on shares of Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a report on Wednesday, May 18th. Gordon Haskett cut Home Depot from a “buy” rating to an “accumulate” rating in a research note on Friday, May 6th. Finally, Citigroup raised their target price on Home Depot from $327.00 to $348.00 in a research note on Friday, May 20th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $368.45.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 11,293 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total value of $3,252,722.79. Following the sale, the executive vice president now directly owns 51,175 shares in the company, valued at $14,739,935.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Becker Caryn Seidman purchased 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The shares were purchased at an average price of $287.73 per share, with a total value of $431,595.00. Following the purchase, the director now owns 1,500 shares of the company’s stock, valued at approximately $431,595. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 11,293 shares of Home Depot stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 51,175 shares in the company, valued at approximately $14,739,935.25. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

Home Depot Trading Up 0.8 %

Shares of Home Depot stock opened at $309.69 on Friday. The company’s 50-day moving average price is $290.90 and its two-hundred day moving average price is $310.73. 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 cap of $318.29 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 2.00 and a beta of 0.99.

Home Depot (NYSE:HDGet Rating) last issued its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 EPS for the quarter, topping the consensus estimate of $3.67 by $0.42. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.60%. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $36.78 billion. During the same period in the previous year, the business earned $3.86 earnings per share. Home Depot’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, equities analysts predict that The Home Depot, Inc. will post 16.43 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.45%. The ex-dividend date was Wednesday, June 1st. Home Depot’s dividend payout ratio (DPR) is presently 48.25%.

Home Depot Profile

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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 d├ęcor 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

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

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