Rhumbline Advisers Sells 9,900 Shares of The Home Depot, Inc. (NYSE:HD)

Rhumbline Advisers reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 0.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,924,115 shares of the home improvement retailer's stock after selling 9,900 shares during the quarter. Home Depot comprises approximately 0.7% of Rhumbline Advisers' portfolio, making the stock its 19th largest holding. Rhumbline Advisers owned about 0.19% of Home Depot worth $705,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock worth $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC lifted its position in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after acquiring an additional 257,036 shares during the period. Norges Bank acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $5,032,910,000. Capital Research Global Investors raised its stake in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HD shares. Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Mizuho lowered their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. DA Davidson decreased their price objective on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and an average target price of $426.77.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 of the company's stock, valued at $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares of the company's stock, valued at $6,413,285.76. This represents 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 currently owned by corporate insiders.

Home Depot Stock Up 0.2%

NYSE:HD traded up $0.87 during trading hours on Thursday, reaching $370.97. 668,241 shares of the stock were exchanged, compared to its average volume of 3,401,649. The Home Depot, Inc. has a twelve month low of $323.93 and a twelve month high of $439.37. The firm has a 50 day moving average of $361.54 and a 200 day moving average of $385.28. The stock has a market cap of $369.08 billion, a PE ratio of 25.20, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD - Get Free Report) last issued its 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 return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the firm posted $3.63 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.48%. Home Depot's payout ratio is currently 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.