The Home Depot, Inc. (NYSE:HD) Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in The Home Depot by 2.5%, owning approximately 0.06% of the company, valued at about $217.8 million after selling 15,123 shares in the first quarter.
• The Home Depot reported a $3.56 EPS for the last quarter, slightly missing analysts' expectations, while its revenue of $39.86 billion surpassed projections of $39.24 billion.
• The firm announced a quarterly dividend of $2.30 per share, reflecting an annualized dividend yield of 2.4% and a payout ratio of 62.42%.

Russell Investments Group Ltd. cut its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,266 shares of the home improvement retailer's stock after selling 15,123 shares during the period. Russell Investments Group Ltd. owned 0.06% of Home Depot worth $217,817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Home Depot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after purchasing an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV increased its position in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares during the last quarter. Capital Research Global Investors increased its position in shares of Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group decreased their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Truist Financial reiterated a "buy" rating and set a $433.00 price target (up previously from $417.00) on shares of Home Depot in a research note on Wednesday. Mizuho cut their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Finally, TD Securities downgraded Home Depot to a "buy" rating in a research note on Monday, June 2nd. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $427.48.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.3%

Shares of HD stock traded down $1.03 on Friday, reaching $399.29. 3,820,091 shares of the company's stock were exchanged, compared to its average volume of 3,517,007. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock has a market capitalization of $397.27 billion, a PE ratio of 27.09, a P/E/G ratio of 3.87 and a beta of 1.00. The company's fifty day simple moving average is $369.83 and its 200 day simple moving average is $372.03.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) 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.