DT Investment Partners LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

DT Investment Partners LLC cut its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,659 shares of the home improvement retailer's stock after selling 3,215 shares during the quarter. DT Investment Partners LLC's holdings in Home Depot were worth $3,906,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction 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 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 position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and boosted their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Robert W. Baird cut their price objective on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Truist Financial boosted their target price on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their target price on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley reissued an "overweight" rating and issued a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Stock Down 0.1%

Shares of NYSE:HD traded down $0.49 during trading on Friday, hitting $371.36. The stock had a trading volume of 2,573,629 shares, compared to its average volume of 3,438,198. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market capitalization of $369.47 billion, a PE ratio of 25.19, a PEG ratio of 3.53 and a beta of 1.00. The firm's fifty day moving average is $365.14 and its 200 day moving average is $376.21. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly 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 company had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 EPS. Analysts anticipate 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 was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.48%. Home Depot's dividend payout ratio is 62.42%.

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.