Klingman & Associates LLC Has $2.60 Million Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Klingman & Associates LLC has reduced its position in The Home Depot by 8.5%, now owning 7,089 shares valued at approximately $2.6 million.
• Home Depot reported $3.56 earnings per share for the last quarter, which missed the consensus estimate by $0.03, but showed a revenue increase of 9.4% year-over-year.
• The company also announced a quarterly dividend of $2.30 per share, yielding 2.3% annually, with a dividend payout ratio of 62.42%.

Klingman & Associates LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,089 shares of the home improvement retailer's stock after selling 660 shares during the period. Klingman & Associates LLC's holdings in Home Depot were worth $2,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. Navigoe LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in Home Depot in the first quarter valued at approximately $31,000. Quarry LP increased its stake in 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. Iron Horse Wealth Management LLC increased its stake in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its stake in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were 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 owned 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was 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 $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Stock Performance

Shares of HD traded down $6.45 during midday trading on Thursday, reaching $400.73. The stock had a trading volume of 3,599,312 shares, compared to its average volume of 3,094,821. The firm has a 50 day simple moving average of $369.83 and a 200-day simple moving average of $372.03. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The firm has a market cap of $398.70 billion, a PE ratio of 27.19, a P/E/G ratio of 3.87 and a beta of 1.00. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given 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 (DPR) is 62.42%.

Analyst Ratings Changes

Several equities research analysts have commented on HD shares. Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Royal Bank Of Canada lowered their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Truist Financial reissued a "buy" rating and set a $433.00 price objective (up previously from $417.00) on shares of Home Depot in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus raised shares of 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. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $427.38.

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.