Lifestyle Asset Management Inc. Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Lifestyle Asset Management Inc. reduced its position in The Home Depot, Inc. (NYSE:HD) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 983 shares of the home improvement retailer’s stock after selling 130 shares during the period. Lifestyle Asset Management Inc.’s holdings in Home Depot were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Home Depot in the fourth quarter worth about $4,311,070,000. International Assets Investment Management LLC grew its position in Home Depot by 12,647.4% in the fourth 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 position in Home Depot by 38.4% in the fourth 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 position in Home Depot by 7.2% in the fourth 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 position in Home Depot by 38.9% in the fourth 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. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on HD. Guggenheim reiterated a “buy” rating and issued a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. Truist Financial dropped their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. UBS Group dropped their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, HSBC dropped their target price on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Stock Performance

Home Depot stock opened at $333.58 on Thursday. The company has a 50 day moving average price of $338.43 and a 200-day moving average price of $352.56. 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 Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a market capitalization of $330.78 billion, a PE ratio of 22.37, a P/E/G ratio of 2.31 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. Home Depot’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.82 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Insider Buying and Selling

In related 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 value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by insiders.

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.