Valeo Financial Advisors LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Valeo Financial Advisors LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,819 shares of the home improvement retailer’s stock after selling 120 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Home Depot were worth $11,439,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cape Investment Advisory Inc. increased its holdings in shares of Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after acquiring an additional 28 shares during the last quarter. Optas LLC raised its holdings in Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after purchasing an additional 29 shares in the last quarter. STAR Financial Bank lifted its position 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 worth $1,367,000 after buying an additional 29 shares during the last quarter. Harvest Investment Advisors LLC grew its position in shares of Home Depot by 0.8% in 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 buying an additional 30 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. raised its stake in 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 worth $3,778,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Matt Carey sold 56,008 shares of the stock in a transaction on Thursday, May 16th. The stock was 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 of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on HD. Mizuho started coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective for the company. Truist Financial dropped their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. TD Cowen reduced their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. HSBC lowered their target price on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research report on Wednesday, May 15th. Finally, Bank of America increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Stock Performance

Shares of HD stock opened at $333.58 on Thursday. The stock has a fifty 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 stock has a market cap of $330.78 billion, a PE ratio of 22.37, a P/E/G ratio of 2.31 and a beta of 0.98. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’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. Sell-side analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

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.