Clarity Capital Partners LLC Trims Holdings in The Home Depot, Inc. (NYSE:HD)

Clarity Capital Partners LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,900 shares of the home improvement retailer’s stock after selling 31 shares during the period. Clarity Capital Partners LLC’s holdings in Home Depot were worth $729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. Carson Advisory Inc. raised its holdings in Home Depot by 0.5% in the 1st quarter. Carson Advisory Inc. now owns 6,618 shares of the home improvement retailer’s stock worth $2,539,000 after purchasing an additional 30 shares during the period. Catalina Capital Group LLC boosted its position in shares of Home Depot by 61.2% during the first quarter. Catalina Capital Group LLC now owns 5,618 shares of the home improvement retailer’s stock valued at $2,155,000 after buying an additional 2,133 shares during the period. Avidian Wealth Solutions LLC boosted its position in shares of Home Depot by 3.1% during the first quarter. Avidian Wealth Solutions LLC now owns 14,261 shares of the home improvement retailer’s stock valued at $5,471,000 after buying an additional 432 shares during the period. TFB Advisors LLC boosted its position in shares of Home Depot by 76.5% during the first quarter. TFB Advisors LLC now owns 1,156 shares of the home improvement retailer’s stock valued at $443,000 after buying an additional 501 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Home Depot in the first quarter valued at approximately $29,624,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HD shares. Guggenheim reaffirmed a “buy” rating and issued a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. UBS Group cut their price objective on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. TD Cowen cut their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. HSBC lowered their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company decreased their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Price Performance

Shares of NYSE HD traded up $7.13 during mid-day trading on Wednesday, reaching $344.22. The company had a trading volume of 3,262,075 shares, compared to its average volume of 3,433,186. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm has a market cap of $341.33 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.35 and a beta of 0.98. The business’s 50-day simple moving average is $338.82 and its 200 day simple moving average is $352.01.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter in the previous year, the business posted $3.82 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.61%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Insider Buying and Selling at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

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.