The Home Depot, Inc. (NYSE:HD) Shares Sold by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 15.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,669 shares of the home improvement retailer’s stock after selling 1,419 shares during the period. FORVIS Wealth Advisors LLC’s holdings in Home Depot were worth $2,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Veracity Capital LLC boosted its stake in Home Depot by 74.8% in the 1st quarter. Veracity Capital LLC now owns 4,564 shares of the home improvement retailer’s stock worth $1,751,000 after buying an additional 1,953 shares during the last quarter. Willis Johnson & Associates Inc. raised its holdings in shares of Home Depot by 22.6% in the 1st quarter. Willis Johnson & Associates Inc. now owns 1,474 shares of the home improvement retailer’s stock worth $565,000 after purchasing an additional 272 shares during the period. Marshall Financial Group LLC raised its holdings in shares of Home Depot by 1.5% in the 1st quarter. Marshall Financial Group LLC now owns 2,610 shares of the home improvement retailer’s stock worth $1,001,000 after purchasing an additional 38 shares during the period. American National Bank & Trust Co. VA purchased a new position in shares of Home Depot in the 1st quarter worth about $1,773,000. Finally, FCG Investment Co raised its holdings in shares of Home Depot by 5.5% in the 1st quarter. FCG Investment Co now owns 3,615 shares of the home improvement retailer’s stock worth $1,387,000 after purchasing an additional 190 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of HD traded down $0.78 during mid-day trading on Friday, hitting $332.86. The stock had a trading volume of 258,672 shares, compared to its average volume of 3,418,103. The company has a market cap of $330.07 billion, a PE ratio of 22.38, a PEG ratio of 2.30 and a beta of 0.98. The company’s fifty day simple moving average is $338.48 and its two-hundred day simple moving average is $352.30. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the previous year, the firm posted $3.82 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

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

Insider Activity at Home Depot

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 stock was sold at an average price of $345.18, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Evercore ISI raised their price objective on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. UBS Group cut their price objective on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. TD Cowen dropped their target price on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Truist Financial dropped their target price 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, Citigroup dropped their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. One 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.42.

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.