The Home Depot, Inc. (NYSE:HD) Shares Sold by Clearwater Capital Advisors LLC

Key Points

• Clearwater Capital Advisors LLC reduced its stake in The Home Depot by 17.4%, selling 877 shares and now holding 4,166 shares valued at approximately $1.53 million.
• Home Depot reported $39.86 billion in revenue for its last quarter, exceeding analyst expectations, even though its earnings per share of $3.56 missed the consensus estimate.
• Analysts show a generally favorable outlook for Home Depot, with a consensus rating of "Moderate Buy" and a target price of $426.77.

Clearwater Capital Advisors LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,166 shares of the home improvement retailer's stock after selling 877 shares during the period. Clearwater Capital Advisors LLC's holdings in Home Depot were worth $1,527,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. UNIVEST FINANCIAL Corp lifted its stake in Home Depot by 1.6% during the first quarter. UNIVEST FINANCIAL Corp now owns 19,753 shares of the home improvement retailer's stock worth $7,239,000 after purchasing an additional 311 shares in the last quarter. Baker Avenue Asset Management LP lifted its stake in Home Depot by 6.1% during the first quarter. Baker Avenue Asset Management LP now owns 28,855 shares of the home improvement retailer's stock worth $10,575,000 after purchasing an additional 1,652 shares in the last quarter. Heritage Wealth Advisors lifted its stake in Home Depot by 3.3% during the first quarter. Heritage Wealth Advisors now owns 92,855 shares of the home improvement retailer's stock worth $34,030,000 after purchasing an additional 2,937 shares in the last quarter. Blueshift Asset Management LLC acquired a new position in Home Depot during the first quarter worth $507,000. Finally, Commerce Bank lifted its stake in Home Depot by 0.4% during the first quarter. Commerce Bank now owns 228,053 shares of the home improvement retailer's stock worth $83,579,000 after purchasing an additional 974 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD traded up $7.32 during trading on Monday, reaching $380.98. The company's stock had a trading volume of 2,843,316 shares, compared to its average volume of 3,228,696. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company's fifty day moving average price is $365.84 and its 200-day moving average price is $372.91. The company has a market capitalization of $379.05 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.63 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Mizuho decreased 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. Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Gordon Haskett increased their price objective on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Truist Financial increased their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Seven equities research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction dated 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 directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. The trade was a 24.64% 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.

Home Depot 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.