Parsons Capital Management Inc. RI Reduces Position in The Home Depot, Inc. (NYSE:HD)

Parsons Capital Management Inc. RI lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 51,742 shares of the home improvement retailer’s stock after selling 855 shares during the quarter. Home Depot accounts for about 1.0% of Parsons Capital Management Inc. RI’s portfolio, making the stock its 16th largest position. Parsons Capital Management Inc. RI’s holdings in Home Depot were worth $18,963,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares in the last quarter. Geode Capital Management LLC raised its stake in Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after buying an additional 257,036 shares in the last quarter. Norges Bank bought a new position in Home Depot in the fourth quarter worth approximately $5,032,910,000. Capital Research Global Investors raised its stake in Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after buying an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Truist Financial upped their price target on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company reduced their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Stock Down 0.6%

HD opened at $365.20 on Tuesday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a 50-day moving average price of $361.51 and a 200 day moving average price of $384.05. The company has a market cap of $363.35 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $3.63 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.52%. Home Depot’s payout ratio is 62.42%.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated Wednesday, May 28th. The shares were 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 owns 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction 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 approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.