Strategic Planning Group LLC Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Strategic Planning Group LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 12.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,626 shares of the home improvement retailer’s stock after selling 793 shares during the period. Strategic Planning Group LLC’s holdings in Home Depot were worth $2,158,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Bare Financial Services Inc acquired a new position in Home Depot during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot during the fourth quarter worth $27,000. Keener Financial Planning LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $31,000. PFG Private Wealth Management LLC raised its position in shares of Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $35,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 1.4 %

Shares of NYSE HD traded down $4.92 during midday trading on Monday, hitting $350.88. The company’s stock had a trading volume of 4,145,845 shares, compared to its average volume of 3,435,198. The business’s fifty day simple moving average is $337.91 and its two-hundred day simple moving average is $352.58. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The firm has a market capitalization of $347.94 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 2.44 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. During the same quarter in the previous year, the firm earned $3.82 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid 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 2.56%. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Buying and Selling

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. Truist Financial reduced their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Citigroup reduced their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. 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 research report on Wednesday, May 15th. Guggenheim reiterated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Finally, Raymond James restated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.46.

Home Depot Company 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.