Confluence Wealth Services Inc. Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Confluence Wealth Services Inc. trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,716 shares of the home improvement retailer's stock after selling 913 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Home Depot were worth $5,245,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tsfg LLC raised its position in shares of Home Depot by 6.2% in the first quarter. Tsfg LLC now owns 766 shares of the home improvement retailer's stock valued at $281,000 after purchasing an additional 45 shares during the period. Highland Capital Management LLC boosted its holdings in shares of Home Depot by 13.1% during the first quarter. Highland Capital Management LLC now owns 16,528 shares of the home improvement retailer's stock worth $6,057,000 after acquiring an additional 1,918 shares during the period. Vista Investment Partners II LLC grew its position in shares of Home Depot by 11.5% in the first quarter. Vista Investment Partners II LLC now owns 7,677 shares of the home improvement retailer's stock valued at $2,813,000 after purchasing an additional 789 shares during the last quarter. BSW Wealth Partners grew its position in shares of Home Depot by 2.6% in the first quarter. BSW Wealth Partners now owns 4,726 shares of the home improvement retailer's stock valued at $1,732,000 after purchasing an additional 121 shares during the last quarter. Finally, Gold Investment Management Ltd. lifted its holdings in Home Depot by 63.0% during the 1st quarter. Gold Investment Management Ltd. now owns 450 shares of the home improvement retailer's stock worth $165,000 after purchasing an additional 174 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HD has been the subject of several analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Robert W. Baird dropped their price objective on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Jefferies Financial Group dropped their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Finally, Piper Sandler lowered their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Activity

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

Home Depot Trading Up 1.3%

Shares of NYSE HD traded up $4.86 during trading on Friday, reaching $368.36. The company had a trading volume of 5,502,278 shares, compared to its average volume of 3,419,944. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The company's fifty day moving average price is $363.55 and its 200-day moving average price is $377.53. The stock has a market cap of $366.49 billion, a P/E ratio of 24.35, a PEG ratio of 3.51 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last announced 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 net margin of 8.98% and a return on equity of 242.51%. 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 previous year, the company earned $3.63 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is 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.