Hudson Valley Investment Advisors Inc. ADV Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Hudson Valley Investment Advisors Inc. ADV reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 23,213 shares of the home improvement retailer's stock after selling 2,061 shares during the period. Hudson Valley Investment Advisors Inc. ADV's holdings in Home Depot were worth $8,507,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. City State Bank grew its position in Home Depot by 2.8% during the 1st quarter. City State Bank now owns 4,749 shares of the home improvement retailer's stock worth $1,740,000 after purchasing an additional 130 shares during the last quarter. Horizon Wealth Management LLC grew its position in Home Depot by 12.0% during the 1st quarter. Horizon Wealth Management LLC now owns 607 shares of the home improvement retailer's stock worth $223,000 after purchasing an additional 65 shares during the last quarter. Fortress Financial Group LLC grew its position in Home Depot by 5.7% during the 1st quarter. Fortress Financial Group LLC now owns 630 shares of the home improvement retailer's stock worth $231,000 after purchasing an additional 34 shares during the last quarter. Constitution Capital LLC boosted its holdings in shares of Home Depot by 3.0% in the first quarter. Constitution Capital LLC now owns 23,683 shares of the home improvement retailer's stock valued at $8,680,000 after acquiring an additional 700 shares in the last quarter. Finally, Udine Wealth Management Inc. boosted its holdings in shares of Home Depot by 6.8% in the first quarter. Udine Wealth Management Inc. now owns 5,898 shares of the home improvement retailer's stock valued at $2,162,000 after acquiring an additional 378 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HD shares. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and lifted their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company lowered their target price on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, DA Davidson lowered their target price on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average target price of $426.77.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 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. 0.10% of the stock is currently owned by insiders.

Home Depot Trading Down 0.5%

Shares of HD stock opened at $367.45 on Friday. The firm has a market cap of $365.59 billion, a P/E ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 1-year low of $323.93 and a 1-year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm's 50-day simple moving average is $361.63 and its 200-day simple moving average is $384.72.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 earnings per share. The company's revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm 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 $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.50%. Home Depot's 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.

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