TCI Wealth Advisors Inc. Lowers Stake in The Home Depot, Inc. (NYSE:HD)

TCI Wealth Advisors Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,566 shares of the home improvement retailer’s stock after selling 104 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Home Depot were worth $2,902,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HD. Riverwater Partners LLC purchased a new position in Home Depot in the fourth quarter valued at about $226,000. Exchange Traded Concepts LLC raised its holdings in Home Depot by 12.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 26,606 shares of the home improvement retailer’s stock valued at $9,220,000 after buying an additional 2,868 shares during the period. WealthPLAN Partners LLC grew its stake in Home Depot by 12.7% during the 4th quarter. WealthPLAN Partners LLC now owns 3,737 shares of the home improvement retailer’s stock valued at $1,295,000 after purchasing an additional 420 shares in the last quarter. Walker Asset Management LLC raised its stake in Home Depot by 6.0% during the fourth quarter. Walker Asset Management LLC now owns 3,174 shares of the home improvement retailer’s stock valued at $1,100,000 after buying an additional 180 shares in the last quarter. Finally, Tompkins Financial Corp grew its holdings in shares of Home Depot by 7.2% during the fourth quarter. Tompkins Financial Corp now owns 34,550 shares of the home improvement retailer’s stock valued at $11,973,000 after purchasing an additional 2,331 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD traded down $0.31 during midday trading on Monday, hitting $359.46. 1,341,399 shares of the company’s stock traded hands, compared to its average volume of 3,427,294. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The stock has a market capitalization of $356.44 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. 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 firm has a fifty day moving average of $339.52 and a 200 day moving average of $352.14.

Home Depot (NYSE:HD) last released its quarterly 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. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.82 EPS. On average, analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.50%. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HD shares. TD Cowen decreased their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Truist Financial lowered their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Guggenheim restated a “buy” rating and set a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. Citigroup cut their price target on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Mizuho initiated coverage on Home Depot in a research note on Tuesday, March 19th. They set a “buy” rating and a $415.00 price target on the stock. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.96.

Insider Buying and Selling

In other Home Depot 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 value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.10% of the stock is owned by corporate 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.