Bank Pictet & Cie Europe AG Has $3.76 Million Stake in The Home Depot, Inc. (NYSE:HD)

Bank Pictet & Cie Europe AG decreased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 16.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,255 shares of the home improvement retailer's stock after selling 1,949 shares during the period. Bank Pictet & Cie Europe AG's holdings in Home Depot were worth $3,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Navigoe LLC bought a new position in shares of Home Depot during the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the fourth quarter valued at about $32,000. Quarry LP increased its stake 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 acquiring an additional 66 shares during the period. Sellwood Investment Partners LLC bought a new stake in Home Depot in the fourth quarter valued at about $39,000. Finally, NewSquare Capital LLC increased its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HD shares. Truist Financial upped their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and upped their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Robert W. Baird decreased their price objective on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Finally, Mizuho decreased their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity at Home Depot

In other 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 transaction of $954,564.00. Following the transaction, the executive vice president now directly owns 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 transaction, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. This 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 currently owned by company insiders.

Home Depot Trading Down 2.5%

Shares of NYSE HD opened at $354.10 on Monday. The company's 50 day simple moving average is $362.73 and its 200 day simple moving average is $382.18. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market capitalization of $352.31 billion, a P/E ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the company earned $3.63 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.60%. Home Depot's dividend payout ratio is currently 62.42%.

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.

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