Castle Rock Wealth Management LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Castle Rock Wealth Management LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 20.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,826 shares of the home improvement retailer's stock after selling 2,068 shares during the period. Castle Rock Wealth Management LLC's holdings in Home Depot were worth $2,858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Synergy Asset Management LLC purchased a new stake in Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the 4th quarter valued at about $28,000. Navigoe LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the fourth quarter worth about $32,000. Finally, Quarry LP raised its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.5%

Shares of HD stock traded up $5.41 during trading hours on Tuesday, reaching $373.37. 3,355,699 shares of the stock were exchanged, compared to its average volume of 3,421,042. The business's fifty day moving average is $361.04 and its two-hundred day moving average is $385.45. The firm has a market capitalization of $371.48 billion, a P/E ratio of 25.37, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.93 and a 12-month high of $439.37. 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 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the prior year, the company posted $3.63 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect 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 will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Analyst Ratings Changes

HD has been the subject of several analyst reports. TD Securities cut shares of Home Depot to a "buy" rating in a research note on Monday. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Telsey Advisory Group reaffirmed an "outperform" rating on shares of Home Depot in a research note on Monday. Robert W. Baird lowered their price target on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Finally, Royal Bank of Canada reduced their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 17,367 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% 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 corporate insiders.

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.