KBC Group NV Reduces Position in The Home Depot, Inc. (NYSE:HD)

KBC Group NV trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 258,887 shares of the home improvement retailer's stock after selling 10,517 shares during the quarter. KBC Group NV's holdings in Home Depot were worth $94,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Emerald Advisors LLC lifted its stake in shares of Home Depot by 9.5% during the first quarter. Emerald Advisors LLC now owns 3,820 shares of the home improvement retailer's stock worth $1,400,000 after buying an additional 331 shares during the period. Almanack Investment Partners LLC. raised its stake in Home Depot by 23.0% in the 1st quarter. Almanack Investment Partners LLC. now owns 1,631 shares of the home improvement retailer's stock worth $598,000 after acquiring an additional 305 shares during the last quarter. Financial Insights Inc. raised its stake in Home Depot by 3.3% in the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock worth $323,000 after acquiring an additional 28 shares during the last quarter. Root Financial Partners LLC lifted its position in Home Depot by 498.3% during the 1st quarter. Root Financial Partners LLC now owns 13,521 shares of the home improvement retailer's stock worth $4,955,000 after acquiring an additional 11,261 shares during the period. Finally, Goodman Advisory Group LLC purchased a new stake in Home Depot during the 1st quarter valued at about $56,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 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 approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president directly 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HD. DA Davidson reduced their price objective on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. TD Securities lowered shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and lifted their price objective for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Royal Bank Of Canada dropped their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Finally, Truist Financial raised their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Price Performance

Shares of HD stock traded up $6.45 during trading hours on Tuesday, hitting $373.09. 5,149,415 shares of the company's stock were exchanged, compared to its average volume of 3,434,704. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a market cap of $371.20 billion, a P/E ratio of 25.31, a P/E/G ratio of 3.49 and a beta of 1.00. 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 of $364.33 and a two-hundred day moving average of $376.90.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.63 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

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.