Manning & Napier Advisors LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Manning & Napier Advisors LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,235 shares of the home improvement retailer's stock after selling 2,324 shares during the quarter. Manning & Napier Advisors LLC's holdings in Home Depot were worth $7,782,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Navigoe LLC purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the fourth quarter valued at $32,000. Quarry LP increased its holdings in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares in the last quarter. Marshall Investment Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $41,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was 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 owns 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 completion of the transaction, the executive vice president now owns 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE:HD opened at $350.21 on Monday. 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 50 day moving average price of $362.65 and a 200 day moving average price of $379.42. The stock has a market capitalization of $348.44 billion, a P/E ratio of 23.76, a PEG ratio of 3.32 and a beta of 1.02. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

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

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HD shares. Guggenheim restated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Jefferies Financial Group cut their price objective on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Robert W. Baird cut their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Piper Sandler cut their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a report on Friday. Seven 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

About Home Depot

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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