Mizuho Securities USA LLC Sells 14,604 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Mizuho Securities USA LLC has reduced its stake in The Home Depot by 15.5%, selling 14,604 shares to now hold 79,538 shares, valued at approximately $29.15 million.
• Home Depot recently posted earnings of $3.56 per share, slightly missing analyst expectations of $3.59, while its quarterly revenue increased by 9.4% year-over-year.
• The company declared a quarterly dividend of $2.30 per share, resulting in an annualized dividend of $9.20 and a yield of 2.4%, with a payout ratio of 62.42%.

Mizuho Securities USA LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,538 shares of the home improvement retailer's stock after selling 14,604 shares during the quarter. Home Depot comprises 0.6% of Mizuho Securities USA LLC's portfolio, making the stock its 26th largest holding. Mizuho Securities USA LLC's holdings in Home Depot were worth $29,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Navigoe LLC acquired a new position in shares of Home Depot in the 4th quarter worth approximately $29,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC raised its position in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares during the last quarter. Quarry LP raised its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its position in shares of Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after buying an additional 30 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on 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 $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm'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 completion of the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Trading Up 2.2%

Shares of NYSE:HD traded up $8.54 during mid-day trading on Tuesday, reaching $396.07. 2,909,282 shares of the company's stock were exchanged, compared to its average volume of 3,502,985. The firm has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.69 and a beta of 1.00. The business's fifty day moving average price is $368.04 and its 200-day moving average price is $371.78. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results 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 net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same period last year, the firm posted $3.63 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is presently 62.42%.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Gordon Haskett upped their target price on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Truist Financial increased their price target on shares of Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a report on Monday, June 30th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

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.