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

Massachusetts Financial Services Co. MA trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 9.4% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 about 0.11% of Home Depot worth $407,268,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Navigoe LLC purchased a new stake in Home Depot during the fourth quarter worth approximately $29,000. Abound Financial LLC purchased a new stake in Home Depot during the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC grew its stake in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares during the period. Quarry LP grew its stake in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new stake in Home Depot during the fourth quarter worth approximately $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In related 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 owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 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. Corporate insiders own 0.10% of the company's stock.

Home Depot Stock Performance

Shares of HD stock traded down $0.35 during trading hours on Friday, reaching $358.69. The stock had a trading volume of 1,944,885 shares, compared to its average volume of 3,429,105. 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 twelve month low of $326.31 and a twelve month high of $439.37. The firm has a 50-day simple moving average of $366.09 and a 200-day simple moving average of $374.69. The firm has a market capitalization of $356.87 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

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

Home Depot Dividend Announcement

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

Analysts Set New Price Targets

HD has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and boosted their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

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.