Massachusetts Financial Services Co. MA Decreases Position in The Home Depot, Inc. (NYSE:HD)

Massachusetts Financial Services Co. MA lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,111,265 shares of the home improvement retailer's stock after selling 114,926 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.11% of Home Depot worth $407,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Home Depot by 326.2% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 37,144 shares of the home improvement retailer's stock worth $13,613,000 after purchasing an additional 28,428 shares during the last quarter. Baer Investment Advisory LLC increased its holdings in shares of Home Depot by 1.3% in the 1st quarter. Baer Investment Advisory LLC now owns 5,751 shares of the home improvement retailer's stock valued at $2,124,000 after acquiring an additional 71 shares during the last quarter. Apollon Financial LLC increased its holdings in shares of Home Depot by 20.0% in the 1st quarter. Apollon Financial LLC now owns 1,147 shares of the home improvement retailer's stock valued at $420,000 after acquiring an additional 191 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Home Depot by 24.6% during the 1st quarter. Apollon Wealth Management LLC now owns 81,112 shares of the home improvement retailer's stock worth $29,727,000 after acquiring an additional 16,039 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its stake in Home Depot by 12.6% during the first quarter. Hohimer Wealth Management LLC now owns 2,194 shares of the home improvement retailer's stock worth $804,000 after purchasing an additional 245 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the 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 directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $1,996,327.68. Following the sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HD. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Monday, June 30th. Gordon Haskett increased their target price on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Piper Sandler cut 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. DA Davidson decreased their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Evercore ISI set a $400.00 price objective on Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Price Performance

Shares of NYSE:HD opened at $370.30 on Tuesday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a 50-day moving average price of $366.32 and a 200 day moving average price of $375.13. The company has a market cap of $368.42 billion, a P/E ratio of 25.12, a PEG ratio of 3.52 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last posted 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 net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the business earned $3.63 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Home Depot Company 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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.