Abacus Planning Group Inc. Sells 138 Shares of The Home Depot, Inc. (NYSE:HD)

Abacus Planning Group Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 8.5% during the 1st quarter, Holdings Channel reports. The fund owned 1,487 shares of the home improvement retailer’s stock after selling 138 shares during the period. Abacus Planning Group Inc.’s holdings in Home Depot were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Cape Investment Advisory Inc. increased its stake in shares of Home Depot by 1.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after purchasing an additional 28 shares in the last quarter. Optas LLC boosted its holdings in shares of Home Depot by 1.7% in the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the last quarter. STAR Financial Bank lifted its holdings in shares of Home Depot by 0.7% during the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after acquiring an additional 29 shares in the last quarter. Harvest Investment Advisors LLC lifted its holdings in shares of Home Depot by 0.8% during the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after acquiring an additional 30 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. lifted its holdings in shares of Home Depot by 0.3% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after acquiring an additional 30 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Truist Financial dropped their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Guggenheim reissued a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Evercore ISI boosted their target price on shares of Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Finally, Bank of America boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.46.

Home Depot Price Performance

HD stock traded down $0.78 on Monday, hitting $355.02. 862,358 shares of the company’s stock traded hands, compared to its average volume of 3,406,149. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The stock has a market cap of $352.04 billion, a price-to-earnings ratio of 23.82, a P/E/G ratio of 2.44 and a beta of 1.00. The stock has a fifty day moving average of $337.65 and a 200-day moving average of $352.41. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same period in the prior year, the business earned $3.82 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Activity at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.