Impact Partnership Wealth LLC Cuts Position in The Home Depot, Inc. (NYSE:HD)

Impact Partnership Wealth LLC reduced its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 35.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,795 shares of the home improvement retailer's stock after selling 1,554 shares during the period. Impact Partnership Wealth LLC's holdings in Home Depot were worth $1,024,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. 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 purchasing an additional 875,836 shares during the period. Geode Capital Management LLC raised its position in Home Depot by 1.2% during the fourth 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 purchasing an additional 257,036 shares during the period. Asset Planning Services Inc. LA ADV raised its position in Home Depot by 99,400.7% during 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 during the period. Norges Bank purchased a new stake in Home Depot during the fourth quarter valued at approximately $5,032,910,000. Finally, Capital Research Global Investors raised its position in 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 valued at $4,845,098,000 after purchasing an additional 647,552 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the topic of a number of analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Wells Fargo & Company set a $420.00 target price on Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. JPMorgan Chase & Co. upped 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. Truist Financial upped 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. Finally, Morgan Stanley reaffirmed an "overweight" rating and set 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 have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Price Performance

Shares of NYSE:HD traded up $0.28 during trading on Friday, reaching $359.32. 3,360,940 shares of the company's stock traded hands, compared to its average volume of 3,442,403. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two 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 $357.50 billion, a PE ratio of 24.38, a P/E/G ratio of 3.42 and a beta of 1.00. The company has a 50-day simple moving average of $366.03 and a 200-day simple moving average of $374.48.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business'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 transaction of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's 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 transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

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.