Parsons Capital Management Inc. RI Sells 855 Shares of The Home Depot, Inc. (NYSE:HD)

Parsons Capital Management Inc. RI reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,742 shares of the home improvement retailer's stock after selling 855 shares during the period. Home Depot accounts for approximately 1.0% of Parsons Capital Management Inc. RI's investment portfolio, making the stock its 16th biggest holding. Parsons Capital Management Inc. RI's holdings in Home Depot were worth $18,963,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. First National Bank of Mount Dora Trust Investment Services grew its holdings in Home Depot by 14.9% in the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 19,391 shares of the home improvement retailer's stock worth $7,107,000 after purchasing an additional 2,512 shares during the period. Sonora Investment Management Group LLC boosted its position in shares of Home Depot by 1.0% during the 1st quarter. Sonora Investment Management Group LLC now owns 54,208 shares of the home improvement retailer's stock worth $19,867,000 after purchasing an additional 556 shares in the last quarter. Accurate Wealth Management LLC grew its stake in shares of Home Depot by 8.7% in the 1st quarter. Accurate Wealth Management LLC now owns 9,920 shares of the home improvement retailer's stock valued at $3,510,000 after buying an additional 798 shares during the period. Fiduciary Financial Group LLC increased its position in Home Depot by 6.4% in the 1st quarter. Fiduciary Financial Group LLC now owns 1,790 shares of the home improvement retailer's stock valued at $633,000 after buying an additional 107 shares in the last quarter. Finally, Simplicity Wealth LLC increased its position in Home Depot by 217.2% in the 1st quarter. Simplicity Wealth LLC now owns 12,518 shares of the home improvement retailer's stock valued at $4,588,000 after buying an additional 8,571 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

HD has been the subject of a number of research reports. Truist Financial raised their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Royal Bank of Canada cut their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $426.77.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was 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 directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was 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 now owns 7,951 shares of the company's stock, valued at approximately $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 Stock Performance

Shares of NYSE:HD traded up $2.95 during mid-day trading on Tuesday, reaching $368.15. The company had a trading volume of 3,014,068 shares, compared to its average volume of 3,408,063. The company's 50-day moving average price is $361.51 and its 200-day moving average price is $384.05. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a market cap of $366.28 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 4.03 and a beta of 1.02. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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

Home Depot Announces Dividend

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

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.