Boston Family Office LLC Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Boston Family Office LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,803 shares of the home improvement retailer’s stock after selling 483 shares during the quarter. Boston Family Office LLC’s holdings in Home Depot were worth $7,624,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock valued at $4,747,000 after buying an additional 565 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in Home Depot in the 4th quarter valued at approximately $1,056,000. Alexis Investment Partners LLC purchased a new stake in Home Depot in the 4th quarter valued at approximately $1,311,000. Finally, Belmont Capital LLC lifted its stake in Home Depot by 0.6% in the 4th quarter. Belmont Capital LLC now owns 37,894 shares of the home improvement retailer’s stock valued at $14,741,000 after buying an additional 235 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.3%

Shares of NYSE HD opened at $399.29 on Friday. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a market cap of $397.26 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.80 and a beta of 1.00. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock has a fifty day moving average price of $370.47 and a 200 day moving average price of $371.90.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the company posted $3.63 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. Sanford C. Bernstein reiterated a “market perform” rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. 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. Truist Financial reiterated a “buy” rating and issued a $433.00 price target (up from $417.00) on shares of Home Depot in a report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Finally, TD Securities downgraded Home Depot to a “buy” rating in a report on Monday, June 2nd. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $427.48.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 7,951 shares of the company’s stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 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. Corporate insiders own 0.10% of the company’s stock.

About Home Depot

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.