Callan Family Office LLC Cuts Stake in 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 decreased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 36.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Navigoe LLC purchased a new stake in Home Depot in the fourth quarter worth approximately $29,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC raised its position in shares of Home Depot by 86.8% during the 1st 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 during the period. Quarry LP lifted its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its stake in Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley restated an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Mizuho reduced their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Truist Financial restated a "buy" rating and issued a $433.00 target price (up from $417.00) on shares of Home Depot in a report on Wednesday. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Finally, Guggenheim reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.48.

Home Depot Trading Down 0.3%

Shares of Home Depot stock traded down $1.03 on Friday, reaching $399.29. The company had a trading volume of 3,840,292 shares, compared to its average volume of 3,118,386. The firm's 50 day moving average price is $370.47 and its two-hundred day moving average price is $371.90. The firm has a market cap of $397.26 billion, a PE ratio of 27.09, a PEG ratio of 3.80 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. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the previous year, the company earned $3.63 earnings per share. Home Depot's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict 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 of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's dividend payout ratio is currently 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 directly owned 7,951 shares in the company, 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. Corporate insiders own 0.10% of the company's stock.

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.