Boston Partners Trims Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Boston Partners reduced its stake in The Home Depot by 12.8% during the 1st quarter, now holding approximately 789,606 shares valued at $288.75 million.
• The Home Depot's quarterly earnings report showed earnings per share of $3.56, slightly missing estimates, with revenue rising to $39.86 billion, an increase of 9.4% compared to the previous year.
• The company recently announced a quarterly dividend of $2.30, resulting in an annualized dividend yield of 2.3%, with a payout ratio of 62.42%.

Boston Partners reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 12.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 789,606 shares of the home improvement retailer's stock after selling 115,450 shares during the period. Boston Partners owned approximately 0.08% of Home Depot worth $288,750,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. purchased a new position in Home Depot in the 1st quarter worth $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 worth $2,384,000 after purchasing an additional 36 shares during the period. Arbor Capital Management Inc. ADV raised its position in 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 worth $1,757,000 after purchasing an additional 221 shares during the period. ARS Wealth Advisors Group LLC raised its position in Home Depot by 0.8% in 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 purchasing an additional 239 shares during the period. Finally, Tabor Asset Management LP purchased a new position in Home Depot in the 1st quarter worth $5,886,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 1.6%

NYSE:HD traded down $6.45 during mid-day trading on Thursday, hitting $400.73. 3,599,312 shares of the company's stock were exchanged, compared to its average volume of 3,094,821. The business has a fifty day moving average price of $369.83 and a 200 day moving average price of $372.03. The company has a market cap of $398.70 billion, a PE ratio of 27.19, a P/E/G ratio of 3.87 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

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 (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.63 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following 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 disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

HD has been the topic of a number of analyst reports. DA Davidson decreased their target price on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Truist Financial restated a "buy" rating and issued a $433.00 price objective (up previously from $417.00) on shares of Home Depot in a research report on Wednesday. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research report 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 report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $427.38.

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.