Douglas Lane & Associates LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Douglas Lane & Associates LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,586 shares of the home improvement retailer’s stock after selling 90 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Home Depot were worth $10,185,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HD. Moss Adams Wealth Advisors LLC boosted its stake in shares of Home Depot by 13.5% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 899 shares of the home improvement retailer’s stock valued at $312,000 after purchasing an additional 107 shares during the period. Argus Investors Counsel Inc. raised its holdings in shares of Home Depot by 0.8% in the fourth quarter. Argus Investors Counsel Inc. now owns 6,729 shares of the home improvement retailer’s stock valued at $2,332,000 after acquiring an additional 56 shares in the last quarter. Regency Capital Management Inc. DE raised its holdings in shares of Home Depot by 22.0% in the fourth quarter. Regency Capital Management Inc. DE now owns 2,803 shares of the home improvement retailer’s stock valued at $971,000 after acquiring an additional 506 shares in the last quarter. Leavell Investment Management Inc. raised its holdings in shares of Home Depot by 0.3% in the fourth quarter. Leavell Investment Management Inc. now owns 43,864 shares of the home improvement retailer’s stock valued at $15,201,000 after acquiring an additional 147 shares in the last quarter. Finally, Semus Wealth Partners LLC raised its holdings in shares of Home Depot by 5.2% in the fourth quarter. Semus Wealth Partners LLC now owns 1,035 shares of the home improvement retailer’s stock valued at $359,000 after acquiring an additional 51 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE HD traded up $3.72 during trading hours on Tuesday, reaching $353.73. The stock had a trading volume of 2,830,862 shares, compared to its average volume of 3,408,902. The stock has a fifty day moving average of $346.68 and a 200 day moving average of $353.39. The stock has a market cap of $350.76 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34.

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

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.54%. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Activity at Home Depot

In other Home Depot 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 value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI lifted their price objective on Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Raymond James restated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Truist Financial decreased their price objective on Home Depot from $406.00 to $396.00 and set a “buy” rating for the company in a report on Thursday, August 1st. UBS Group reduced their target price 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. Finally, Wedbush reiterated an “outperform” rating and issued a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $384.00.

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.