Aveo Capital Partners LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Aveo Capital Partners LLC reduced its stake in The Home Depot by 58.7%, selling 1,575 shares during the first quarter, leaving them with 1,107 shares valued at $402,000.
• The Home Depot recently reported earnings of $3.56 per share for the previous quarter, missing analyst expectations while revenue rose 9.4% year-over-year to $39.86 billion.
• The company declared a quarterly dividend of $2.30 per share, representing an annualized yield of 2.4% with a dividend payout ratio of 62.42%.

Aveo Capital Partners LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 58.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,107 shares of the home improvement retailer's stock after selling 1,575 shares during the period. Aveo Capital Partners LLC's holdings in Home Depot were worth $402,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of HD. Asset Planning Services Inc. LA ADV raised its holdings in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. GAMMA Investing LLC increased its position in shares of Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Northern Trust Corp increased its position in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in shares of Home Depot during the fourth quarter worth about $471,189,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Home Depot by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after acquiring an additional 891,326 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Performance

HD traded down $3.20 during trading on Friday, hitting $397.12. The company's stock had a trading volume of 1,721,973 shares, compared to its average volume of 3,502,629. 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 Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a market cap of $395.11 billion, a PE ratio of 26.93, a P/E/G ratio of 3.87 and a beta of 1.00. The business's 50 day simple moving average is $369.83 and its 200-day simple moving average is $372.03.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share 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 company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the company posted $3.63 EPS. Home Depot's revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $2.30 per share. 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 2.3%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares of the company's stock, valued at $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. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Mizuho reduced their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the stock an "overweight" rating in a research note on Monday, June 30th. Truist Financial reiterated a "buy" rating and issued a $433.00 target price (up from $417.00) on shares of Home Depot in a research note on Wednesday. DA Davidson lowered their target price on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and an average price target of $427.48.

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.