The Home Depot, Inc. (NYSE:HD) Shares Sold by GKV Capital Management Co. Inc.

Key Points

• GKV Capital Management Co. Inc. reduced its stake in Home Depot by 79.6%, selling 1,592 shares, which leaves it with only 408 shares valued at approximately $150,000.
• Several institutional investors increased their positions in Home Depot, with Vanguard Group Inc. purchasing an additional 720,447 shares, bringing their total to 96,484,199 shares worth about $35.36 billion.
• Home Depot recently declared a quarterly dividend of $2.30 per share, resulting in an annualized dividend of $9.20 and a dividend yield of 2.3%.

GKV Capital Management Co. Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 79.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 408 shares of the home improvement retailer's stock after selling 1,592 shares during the period. GKV Capital Management Co. Inc.'s holdings in Home Depot were worth $150,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Home Depot by 0.8% during the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after purchasing an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV boosted its stake in Home Depot by 99,400.7% in the first 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 acquiring an additional 18,956,701 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 6.6% in the first 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 acquiring an additional 891,326 shares in the last quarter. Capital Research Global Investors boosted its stake in Home Depot by 5.5% in the fourth 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 acquiring an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Trading Up 2.2%

Home Depot stock opened at $396.07 on Wednesday. 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 firm has a 50-day moving average price of $368.49 and a two-hundred day moving average price of $371.95. The firm has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 3.68 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week 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 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 for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.63 earnings per share. Sell-side 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. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and issued a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Truist Financial upped their price objective 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. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following 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 Securities & Exchange Commission, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction that occurred 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 owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

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.

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