Founders Capital Management LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Founders Capital Management LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,870 shares of the home improvement retailer's stock after selling 1,023 shares during the quarter. Home Depot makes up 2.4% of Founders Capital Management LLC's holdings, making the stock its 11th biggest position. Founders Capital Management LLC's holdings in Home Depot were worth $13,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC bought a new stake in Home Depot during the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $32,000. Quarry LP boosted its holdings 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 worth $37,000 after acquiring an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Home Depot in the fourth quarter valued at $39,000. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 0.9%

Shares of NYSE:HD traded up $3.12 during trading on Thursday, reaching $363.58. 1,505,429 shares of the company traded hands, compared to its average volume of 3,405,789. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The firm has a market capitalization of $361.74 billion, a price-to-earnings ratio of 24.70, a P/E/G ratio of 4.03 and a beta of 1.02. The business's fifty day moving average is $361.89 and its 200-day moving average is $383.78.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Insider Activity at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the firm's 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 sale, the executive vice president now owns 7,951 shares of the company's stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 17,367 shares in the company, 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. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HD has been the topic of several recent analyst reports. Truist Financial increased their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Morgan Stanley restated 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. Finally, Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

About Home Depot

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.