Phoenix Financial Ltd. Has $11.35 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Phoenix Financial Ltd. reduced its stake in Home Depot by 3.5% during the first quarter, now holding 30,919 shares valued at $11.35 million.
• Home Depot recently declared a quarterly dividend of $2.30 per share, with a yield of 2.47%.
• Analysts have mixed views on Home Depot, with a consensus rating of "Moderate Buy" and an average target price of $426.77.

Phoenix Financial Ltd. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,919 shares of the home improvement retailer's stock after selling 1,121 shares during the period. Phoenix Financial Ltd.'s holdings in Home Depot were worth $11,345,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock worth $8,525,046,000 after buying an additional 257,036 shares in the last quarter. Asset Planning Services Inc. LA ADV grew its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares in the last quarter. Norges Bank acquired a new stake in Home Depot during the fourth quarter worth about $5,032,910,000. Capital Research Global Investors grew its position in Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after buying an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp grew its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.3%

NYSE:HD traded down $0.96 during trading hours on Tuesday, hitting $376.27. 1,270,444 shares of the stock were exchanged, compared to its average volume of 3,539,895. The company has a market capitalization of $374.37 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 3.57 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 company's 50 day moving average is $365.55 and its two-hundred day moving average is $373.66. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

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). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.63 earnings per share. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.45%. Home Depot's payout ratio is 62.42%.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HD. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and lifted their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Guggenheim reissued a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Morgan Stanley reissued an "overweight" rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Mizuho dropped their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Finally, Truist Financial increased their price target on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average price target of $426.77.

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.