The Home Depot, Inc. (NYSE:HD) Shares Sold by West Coast Financial LLC

by · The Markets Daily

West Coast Financial LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,928 shares of the home improvement retailer’s stock after selling 871 shares during the quarter. West Coast Financial LLC’s holdings in Home Depot were worth $8,036,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. POM Investment Strategies LLC raised its holdings in Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares during the last quarter. Live Oak Private Wealth LLC raised its holdings in shares of Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares during the last quarter. Mezzasalma Advisors LLC raised its holdings in shares of Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after acquiring an additional 25 shares during the last quarter. Finally, Focused Wealth Management Inc raised its holdings in shares of Home Depot by 2.4% in the fourth quarter. Focused Wealth Management Inc now owns 1,082 shares of the home improvement retailer’s stock worth $421,000 after acquiring an additional 25 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

HD stock opened at $368.97 on Friday. The stock has a 50-day moving average price of $361.58 and a two-hundred day moving average price of $384.99. The Home Depot, Inc. has a 12-month low of $323.93 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market cap of $367.10 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period last year, the firm posted $3.63 EPS. Home Depot’s revenue was up 9.4% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HD shares. Mizuho cut their price target on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price target (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Truist Financial boosted their price target on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Telsey Advisory Group reissued an “outperform” rating on shares of Home Depot in a report on Monday. Finally, KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

View Our Latest Stock Report on Home Depot

About Home Depot

(Free Report)

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.

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