Arrow Financial Corp Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Arrow Financial Corp reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,486 shares of the home improvement retailer's stock after selling 7,883 shares during the quarter. Arrow Financial Corp's holdings in Home Depot were worth $4,942,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Financial Gravity Asset Management Inc. acquired a new position in Home Depot during the 1st quarter worth about $406,000. Wealth Management Partners LLC raised its position in Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock valued at $2,384,000 after purchasing an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV increased its holdings in shares of Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after acquiring an additional 221 shares during the last quarter. Disciplined Investors L.L.C. acquired a new stake in shares of Home Depot during the 4th quarter worth about $409,000. Finally, ARS Wealth Advisors Group LLC raised its position in shares of Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after acquiring an additional 239 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HD shares. Gordon Haskett raised their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Truist Financial raised 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. Wells Fargo & Company set a $420.00 price target on Home Depot and gave the stock an "overweight" rating in a research note on Monday, June 30th. Mizuho dropped their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insiders Place Their Bets

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

Home Depot Price Performance

HD traded down $2.82 during trading on Thursday, reaching $373.53. 972,895 shares of the stock were exchanged, compared to its average volume of 3,547,293. The business's 50 day moving average price is $365.82 and its two-hundred day moving average price is $374.10. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The company has a market capitalization of $371.63 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 3.53 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued 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 dividend yield of 2.46%. 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.