Envestnet Asset Management Inc. Sells 23,335 Shares of The Home Depot, Inc. (NYSE:HD)

Envestnet Asset Management Inc. reduced its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,577,862 shares of the home improvement retailer's stock after selling 23,335 shares during the period. Envestnet Asset Management Inc. owned about 0.26% of Home Depot worth $944,761,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HD. Vanguard Group Inc. raised its position in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC grew its stake in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after acquiring an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% in the 1st 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 during the period. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $5,032,910,000. Finally, Capital Research Global Investors boosted its holdings in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company'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 value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. Robert W. Baird dropped their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Monday, June 30th. Truist Financial lifted their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Royal Bank Of Canada dropped their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Seven research 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's stock. According to MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Performance

NYSE HD traded down $4.17 during trading on Monday, hitting $367.51. The company's stock had a trading volume of 3,431,640 shares, compared to its average volume of 3,438,169. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. 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 firm has a market cap of $365.65 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 3.53 and a beta of 1.00. The firm has a 50 day moving average price of $365.14 and a 200 day moving average price of $376.15.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period last year, the firm posted $3.63 EPS. The company's revenue was up 9.4% compared to the same quarter last year. Equities research 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 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.