Romano Brothers AND Company Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Romano Brothers AND Company lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 4.4% during the first quarter, HoldingsChannel.com reports. The fund owned 7,988 shares of the home improvement retailer’s stock after selling 369 shares during the quarter. Romano Brothers AND Company’s holdings in Home Depot were worth $3,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth $4,311,070,000. International Assets Investment Management LLC grew its holdings in Home Depot by 12,647.4% during the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock worth $1,930,104,000 after acquiring an additional 5,525,791 shares in the last quarter. Jennison Associates LLC grew its holdings in Home Depot by 38.4% during the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after acquiring an additional 1,207,388 shares in the last quarter. Capital Research Global Investors grew its holdings in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in Home Depot by 38.9% during the 4th quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock worth $613,258,000 after acquiring an additional 495,894 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.8 %

Shares of NYSE:HD opened at $344.24 on Friday. The company has a 50 day moving average of $338.51 and a 200-day moving average of $352.74. The firm has a market cap of $341.35 billion, a P/E ratio of 23.09, a P/E/G ratio of 2.38 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. 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. As a group, analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share 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 2.61%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

Analyst Ratings Changes

Several research analysts have weighed in on HD shares. Evercore ISI raised their price objective on shares of Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Truist Financial decreased their price target on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Citigroup decreased their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. HSBC decreased their price target on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. Finally, DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the company from $352.00 to $395.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $378.42.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the 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 completion of the sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.