The Home Depot, Inc. (NYSE:HD) Stake Reduced by Alta Capital Management LLC

Alta Capital Management LLC decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,696 shares of the home improvement retailer's stock after selling 4,643 shares during the quarter. Home Depot comprises about 2.0% of Alta Capital Management LLC's holdings, making the stock its 24th largest position. Alta Capital Management LLC's holdings in Home Depot were worth $30,307,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Navigoe LLC purchased a new stake in Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $32,000. Quarry LP grew its holdings in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the period. Marshall Investment Management LLC acquired a new position in Home Depot during the fourth quarter worth approximately $41,000. Finally, Sellwood Investment Partners LLC purchased a new position in Home Depot during the fourth quarter worth approximately $39,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on HD shares. KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Truist Financial upped their price target on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Friday. Jefferies Financial Group decreased their target price on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Finally, Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and raised their price target for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Up 0.9%

Shares of HD traded up $3.18 during trading on Friday, reaching $350.21. The company's stock had a trading volume of 8,001,951 shares, compared to its average volume of 3,437,824. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The company has a market cap of $348.44 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 3.30 and a beta of 1.02. The company has a fifty day moving average of $362.72 and a two-hundred day moving average of $380.63.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.63 earnings per share. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.63%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Home Depot Company 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.