Investment Partners LTD. Sells 77 Shares of The Home Depot, Inc. (NYSE:HD)

Investment Partners LTD. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,167 shares of the home improvement retailer’s stock after selling 77 shares during the quarter. Investment Partners LTD.’s holdings in Home Depot were worth $1,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Optas LLC grew its stake in shares of Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after buying an additional 29 shares during the last quarter. Harvest Investment Advisors LLC lifted its holdings in shares of Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares during the last quarter. Armstrong Henry H Associates Inc. raised its holdings in Home Depot by 0.3% in the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after acquiring an additional 30 shares during the last quarter. CGC Financial Services LLC raised its holdings in Home Depot by 4.3% in the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock worth $250,000 after acquiring an additional 30 shares during the last quarter. Finally, Independent Investors Inc. raised its holdings in Home Depot by 0.5% in the 4th quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after acquiring an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Shares of NYSE HD traded up $3.11 during midday trading on Friday, reaching $335.09. 2,465,262 shares of the company traded hands, compared to its average volume of 3,779,238. The firm has a market cap of $332.08 billion, a PE ratio of 22.19, a PEG ratio of 2.21 and a beta of 0.98. The stock’s 50-day simple moving average is $364.77 and its 200-day simple moving average is $340.68. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.30 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.69%. The ex-dividend date was Wednesday, March 6th. Home Depot’s payout ratio is currently 59.60%.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. TD Cowen boosted their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Guggenheim reissued a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. Mizuho initiated coverage on shares of Home Depot in a research report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective on the stock. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

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.