Maryland State Retirement & Pension System Sells 7,198 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in The Home Depot by 13.4%, now holding 46,487 shares valued at $17 million.
• Home Depot recently reported earnings of $3.56 per share, missing estimates by 3 cents, although revenue was up 9.4% year-over-year.
• The company announced a quarterly dividend of $2.30 per share, with a yield of 2.4%, and a payout ratio of 62.42%.

Maryland State Retirement & Pension System decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 13.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 46,487 shares of the home improvement retailer's stock after selling 7,198 shares during the period. Maryland State Retirement & Pension System's holdings in Home Depot were worth $17,037,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HD. Financial Gravity Asset Management Inc. acquired a new stake in Home Depot during the 1st quarter valued at approximately $406,000. Wealth Management Partners LLC grew its stake in Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock valued at $2,384,000 after purchasing an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV grew its stake in Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after purchasing an additional 221 shares in the last quarter. ARS Wealth Advisors Group LLC grew its stake in Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock valued at $11,628,000 after purchasing an additional 239 shares in the last quarter. Finally, Tabor Asset Management LP acquired a new stake in Home Depot during the 1st quarter valued at approximately $5,886,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Truist Financial increased their target price on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Robert W. Baird decreased their target price on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Evercore ISI set a $400.00 price target on Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. DA Davidson lowered their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Trading Down 0.5%

Shares of Home Depot stock traded down $2.05 during trading on Monday, hitting $385.80. The company's stock had a trading volume of 1,069,643 shares, compared to its average volume of 3,496,725. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a market cap of $383.84 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The stock has a 50-day moving average price of $367.64 and a two-hundred day moving average price of $371.97.

Home Depot (NYSE:HD - Get Free Report) last issued 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 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the firm earned $3.63 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot's dividend payout ratio is 62.42%.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president owned 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

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.