The Home Depot, Inc. (NYSE:HD) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 8.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,754 shares of the home improvement retailer’s stock after selling 329 shares during the period. Drive Wealth Management LLC’s holdings in Home Depot were worth $1,440,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Bare Financial Services Inc acquired a new position in shares of Home Depot in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $27,000. Keener Financial Planning LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $31,000. PFG Private Wealth Management LLC boosted its holdings 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 worth $32,000 after buying an additional 32 shares during the period. Finally, Gilfoyle & Co LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HD shares. Wells Fargo & Company increased their price target on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Barclays raised shares of Home Depot from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $325.00 to $372.00 in a research report on Thursday, January 4th. Bank of America raised their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Truist Financial reiterated a “buy” rating and set a $417.00 price target on shares of Home Depot in a research note on Wednesday, April 17th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $370.00 price target on shares of Home Depot in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Home Depot Stock Up 0.9 %

Shares of NYSE HD traded up $3.11 during trading hours on Friday, hitting $335.09. The company had a trading volume of 2,465,262 shares, compared to its average volume of 3,779,238. The stock has a market capitalization of $332.08 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.21 and a beta of 0.98. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm’s 50 day moving average is $364.77 and its 200-day moving average is $340.68.

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

Home Depot Increases Dividend

The firm also recently declared 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 an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Insider Buying and Selling at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated 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 in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.