Grimes & Company Inc. Sells 57 Shares of The Home Depot, Inc. (NYSE:HD)

Grimes & Company Inc. lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 0.9% during the first quarter, HoldingsChannel.com reports. The fund owned 6,496 shares of the home improvement retailer’s stock after selling 57 shares during the period. Grimes & Company Inc.’s holdings in Home Depot were worth $2,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Algert Global LLC bought a new position in Home Depot in the third quarter valued at about $245,000. Trexquant Investment LP grew its position in Home Depot by 300.3% in the third quarter. Trexquant Investment LP now owns 8,371 shares of the home improvement retailer’s stock valued at $2,529,000 after acquiring an additional 6,280 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Home Depot by 62.6% in the third quarter. SRS Capital Advisors Inc. now owns 1,421 shares of the home improvement retailer’s stock valued at $429,000 after acquiring an additional 547 shares during the last quarter. AQR Capital Management LLC grew its position in Home Depot by 25.6% in the third quarter. AQR Capital Management LLC now owns 275,050 shares of the home improvement retailer’s stock valued at $83,109,000 after acquiring an additional 56,008 shares during the last quarter. Finally, Axxcess Wealth Management LLC grew its position in Home Depot by 49.0% in the third quarter. Axxcess Wealth Management LLC now owns 48,945 shares of the home improvement retailer’s stock valued at $14,790,000 after acquiring an additional 16,089 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HD. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Raymond James restated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Evercore ISI boosted their price target on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Truist Financial reduced their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.42.

Home Depot Price Performance

Shares of HD opened at $344.24 on Friday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The business’s 50 day moving average price is $338.51 and its two-hundred day moving average price is $352.74. The firm has a market cap of $341.35 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 2.38 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings data 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 return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. During the same quarter in the previous year, the company posted $3.82 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.61%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Insider Buying and Selling

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently 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.