Asset Dedication LLC Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Asset Dedication LLC reduced its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,942 shares of the home improvement retailer's stock after selling 1,293 shares during the quarter. Asset Dedication LLC's holdings in Home Depot were worth $4,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TFR Capital LLC. lifted its position in shares of Home Depot by 49.7% in the 1st quarter. TFR Capital LLC. now owns 3,245 shares of the home improvement retailer's stock worth $1,189,000 after purchasing an additional 1,077 shares during the period. Dock Street Asset Management Inc. grew its stake in shares of Home Depot by 1.9% in the 1st quarter. Dock Street Asset Management Inc. now owns 2,490 shares of the home improvement retailer's stock worth $913,000 after acquiring an additional 46 shares in the last quarter. V2 Financial group LLC grew its stake in shares of Home Depot by 7.7% in the 1st quarter. V2 Financial group LLC now owns 700 shares of the home improvement retailer's stock worth $257,000 after acquiring an additional 50 shares in the last quarter. Iron Horse Wealth Management LLC grew its stake in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after acquiring an additional 46 shares in the last quarter. Finally, TruNorth Capital Management LLC grew its stake in shares of Home Depot by 31.6% in the 1st quarter. TruNorth Capital Management LLC now owns 150 shares of the home improvement retailer's stock worth $55,000 after acquiring an additional 36 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 17,367 shares in the company, valued at $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 is available through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE HD traded down $1.42 during trading hours on Wednesday, hitting $357.22. The company's stock had a trading volume of 3,553,884 shares, compared to its average volume of 3,438,107. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company's 50 day simple moving average is $366.31 and its two-hundred day simple moving average is $375.02. The company has a market cap of $355.40 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the previous year, the business posted $3.63 earnings per share. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.58%. Home Depot's dividend payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HD shares. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and increased their price target for the company from $405.00 to $425.00 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 company a "buy" rating in a research note on Tuesday, May 20th. Royal Bank Of Canada lowered their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Mizuho lowered their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research note 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

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.