Callan Family Office LLC Sells 5,425 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Callan Family Office LLC reduced its stake in The Home Depot by 36.1% in Q1, after selling over 5,400 shares, bringing its holdings down to 9,613 shares valued at $3,523,000.
• Several hedge funds have increased their positions in Home Depot, with Brighton Jones LLC achieving a 36.5% increase in Q4, now owning 26,918 shares worth $10,471,000.
• While analysts have adjusted their price targets downwards, Home Depot still holds a consensus rating of "Moderate Buy" with a target price of $426.77.

Callan Family Office LLC lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 36.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,613 shares of the home improvement retailer's stock after selling 5,425 shares during the quarter. Callan Family Office LLC's holdings in Home Depot were worth $3,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HD. Invst LLC grew its holdings in shares of Home Depot by 0.4% in the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after acquiring an additional 28 shares in the last quarter. Financial Insights Inc. boosted its holdings in shares of Home Depot by 3.3% during the first 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 period. Wayfinding Financial LLC boosted its holdings in shares of Home Depot by 1.2% during the first quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock worth $862,000 after acquiring an additional 28 shares during the period. Pure Portfolios Holdings LLC boosted its holdings in shares of Home Depot by 4.7% during the first quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock worth $228,000 after acquiring an additional 28 shares during the period. Finally, First Interstate Bank raised its position in shares of Home Depot by 0.3% in the first quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on HD shares. Truist Financial restated a "buy" rating and set a $433.00 price objective (up from $417.00) on shares of Home Depot in a research report on Wednesday. TD Securities downgraded shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Gordon Haskett upped their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Royal Bank Of Canada reduced 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 research note on Thursday, May 15th. Finally, Morgan Stanley reissued 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. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $427.48.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business'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 owned 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

Shares of Home Depot stock traded down $1.03 on Friday, hitting $399.29. 3,820,064 shares of the company traded hands, compared to its average volume of 3,517,003. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company has a market cap of $397.27 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.87 and a beta of 1.00. The firm's 50-day simple moving average is $369.83 and its 200 day simple moving average is $372.03. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.63 earnings per share. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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 was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's payout ratio is presently 62.42%.

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.