The Home Depot, Inc. (NYSE:HD) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,760 shares of the home improvement retailer's stock after selling 1,028 shares during the period. Essex Financial Services Inc.'s holdings in Home Depot were worth $4,677,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Navigoe LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $29,000. Quarry LP grew its position in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $39,000. NewSquare Capital LLC grew its position in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $45,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated 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 owns 7,951 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 sale, the executive vice president now owns 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on HD shares. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. DA Davidson decreased their price objective on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Friday, June 20th. Finally, Truist Financial upped their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Performance

NYSE:HD opened at $368.36 on Friday. The firm has a market capitalization of $366.49 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 3.51 and a beta of 1.02. The business's fifty day moving average price is $363.55 and its 200 day moving average price is $377.53. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted 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). The business had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is 62.42%.

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.

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