Corundum Group Inc. Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Corundum Group Inc. decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 27.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,813 shares of the home improvement retailer's stock after selling 1,473 shares during the quarter. Corundum Group Inc.'s holdings in Home Depot were worth $1,397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $32,000. Quarry LP raised its stake in shares of 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 buying an additional 66 shares during the last quarter. Sellwood Investment Partners LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $39,000. Finally, NewSquare Capital LLC boosted 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 last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now directly owns 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 now directly owns 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents 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.

Home Depot Stock Performance

Shares of Home Depot stock traded up $1.84 on Thursday, hitting $363.70. The stock had a trading volume of 3,184,311 shares, compared to its average volume of 3,421,245. The stock has a market cap of $361.85 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 3.44 and a beta of 1.02. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The business's 50 day moving average is $363.10 and its two-hundred day moving average is $378.66.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $3.63 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HD shares. Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Mizuho cut their price target 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. KGI Securities raised shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Finally, Guggenheim restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

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.