Correct Capital Wealth Management Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Correct Capital Wealth Management cut its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 25.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,077 shares of the home improvement retailer's stock after selling 1,746 shares during the period. Correct Capital Wealth Management's holdings in Home Depot were worth $1,861,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HD. Asset Planning Services Inc. LA ADV boosted its stake in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares during the period. Norges Bank purchased a new position in shares of Home Depot during the 4th quarter worth about $5,032,910,000. GAMMA Investing LLC lifted its holdings in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after buying an additional 10,210,851 shares in the last quarter. Northern Trust Corp lifted its holdings in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new stake in Home Depot during the 4th quarter valued at about $471,189,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HD has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Royal Bank Of Canada decreased their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Gordon Haskett boosted their price objective on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Price Performance

NYSE:HD traded down $3.15 during trading hours on Friday, reaching $370.15. 3,068,031 shares of the company were exchanged, compared to its average volume of 3,433,785. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock's 50-day moving average is $366.14 and its 200-day moving average is $375.57. The firm has a market cap of $368.27 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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). 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 business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.63 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, June 5th. 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 the stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 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. 0.10% of the stock is 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.