Austin Asset Management Co Inc Sells 384 Shares of The Home Depot, Inc. (NYSE:HD)

Austin Asset Management Co Inc lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 26.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,092 shares of the home improvement retailer’s stock after selling 384 shares during the period. Austin Asset Management Co Inc’s holdings in Home Depot were worth $400,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Navigoe LLC acquired a new position in shares of Home Depot during the fourth quarter valued at $29,000. Quarry LP lifted its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. Sellwood Investment Partners LLC acquired a new position in shares of Home Depot during the fourth quarter valued at $39,000. NewSquare Capital LLC lifted its stake in shares of Home Depot by 200.0% during the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the period. Finally, Spurstone Advisory Services LLC acquired a new position in shares of Home Depot during the fourth quarter valued at $45,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.5%

NYSE HD opened at $363.70 on Friday. The firm has a market cap of $361.85 billion, a P/E ratio of 24.67, a P/E/G ratio of 3.44 and a beta of 1.02. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The stock’s 50-day moving average is $363.28 and its 200-day moving average is $378.21. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. Home Depot’s payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HD. Truist Financial upped their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. TD Securities lowered Home Depot to a “buy” rating in a research note on Monday, June 2nd. Wells Fargo & Company cut their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Jefferies Financial Group cut their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Finally, Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Insider Buying and Selling

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

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.