OLD National Bancorp IN Lowers Stake in The Home Depot, Inc. (NYSE:HD)

OLD National Bancorp IN cut its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,131 shares of the home improvement retailer's stock after selling 892 shares during the quarter. OLD National Bancorp IN's holdings in Home Depot were worth $8,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth about $28,000. Navigoe LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $32,000. Quarry LP grew its holdings in shares of 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 in the last quarter. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.5%

Shares of HD stock opened at $367.45 on Friday. The stock has a market cap of $365.59 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm's 50 day moving average price is $361.63 and its two-hundred day moving average price is $384.62.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $3.63 earnings per share. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. Home Depot's dividend payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HD shares. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Truist Financial raised their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Piper Sandler decreased 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. Jefferies Financial Group decreased their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred 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 now owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred 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 now owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

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.

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