Fortitude Family Office LLC Sells 1,884 Shares of The Home Depot, Inc. (NYSE:HD)

Fortitude Family Office LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 24.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,930 shares of the home improvement retailer's stock after selling 1,884 shares during the quarter. Home Depot accounts for about 0.8% of Fortitude Family Office LLC's holdings, making the stock its 26th largest holding. Fortitude Family Office LLC's holdings in Home Depot were worth $2,173,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HD. POM Investment Strategies LLC lifted its position in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock valued at $824,000 after acquiring an additional 24 shares in the last quarter. Center for Financial Planning Inc. lifted its position in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after buying an additional 24 shares in the last quarter. Tranquility Partners LLC lifted its position in Home Depot by 1.1% in the 4th quarter. Tranquility Partners LLC now owns 2,306 shares of the home improvement retailer's stock worth $897,000 after buying an additional 26 shares in the last quarter. Wealth Group Ltd. lifted its position in Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock worth $219,000 after buying an additional 27 shares in the last quarter. Finally, Members Trust Co lifted its position in Home Depot by 1.0% in the 4th quarter. Members Trust Co now owns 2,692 shares of the home improvement retailer's stock worth $1,047,000 after buying an additional 27 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on HD shares. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Wedbush restated an "outperform" rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Telsey Advisory Group restated an "outperform" rating on shares of Home Depot in a research note on Monday, June 2nd. Piper Sandler dropped their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. increased their price target 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 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Price Performance

Shares of NYSE:HD traded up $2.53 during midday trading on Thursday, reaching $362.99. 2,918,183 shares of the company's stock were exchanged, compared to its average volume of 3,405,620. The company's 50 day simple moving average is $361.89 and its two-hundred day simple moving average is $383.78. The firm has a market capitalization of $361.15 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last announced 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). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the business earned $3.63 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now directly owns 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

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.