The Home Depot, Inc. (NYSE:HD) Stake Decreased by MCF Advisors LLC

MCF Advisors LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,329 shares of the home improvement retailer’s stock after selling 54 shares during the quarter. MCF Advisors LLC’s holdings in Home Depot were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Bey Douglas LLC acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $913,000. Hartline Investment Corp increased its stake in shares of Home Depot by 3.0% during the fourth quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after acquiring an additional 460 shares during the period. Wolf Group Capital Advisors increased its stake in shares of Home Depot by 6.1% during the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group acquired a new position in shares of Home Depot during the fourth quarter valued at approximately $253,000. Finally, Zullo Investment Group Inc. increased its stake in shares of Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after acquiring an additional 504 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

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

Home Depot Stock Up 0.8 %

Shares of NYSE:HD traded up $2.75 during trading on Friday, reaching $344.24. 6,344,192 shares of the company traded hands, compared to its average volume of 3,519,389. The firm has a fifty day simple moving average of $338.51 and a 200 day simple moving average of $352.60. The firm has a market cap of $341.35 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the previous year, the business earned $3.82 EPS. Home Depot’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal 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 issued a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.61%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Guggenheim restated a “buy” rating and issued a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $352.00 to $395.00 in a research report on Wednesday. Wells Fargo & Company decreased their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Finally, Truist Financial decreased their price target on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $378.42.

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.