Oak Thistle LLC Sells 1,313 Shares of The Home Depot, Inc. (NYSE:HD)

Oak Thistle LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 67.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 644 shares of the home improvement retailer’s stock after selling 1,313 shares during the period. Oak Thistle LLC’s holdings in Home Depot were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HD. Bey Douglas LLC bought a new stake in shares of Home Depot during the 4th quarter worth $913,000. Hartline Investment Corp grew its position in shares of Home Depot by 3.0% in the fourth quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after purchasing an additional 460 shares during the last quarter. Wolf Group Capital Advisors increased its stake in shares of Home Depot by 6.1% in the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after purchasing an additional 430 shares during the period. Alliance Wealth Management Group bought a new position in shares of Home Depot in the fourth quarter worth about $253,000. Finally, Zullo Investment Group Inc. lifted its holdings in shares of Home Depot by 6.6% during the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after buying an additional 504 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on HD. Truist Financial lowered their price objective on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Wedbush reissued an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a report on Friday, May 10th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and upped their target price for the company from $352.00 to $395.00 in a research note on Wednesday, June 26th. TD Cowen reduced their target price on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Trading Down 2.3 %

HD opened at $336.19 on Tuesday. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm has a 50-day moving average price of $338.51 and a two-hundred day moving average price of $352.80. The stock has a market capitalization of $333.37 billion, a PE ratio of 22.55, a PEG ratio of 2.38 and a beta of 0.99. 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 posted its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping 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 firm had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.82 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.68%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Insiders Place Their Bets

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

Home Depot 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.