LVW Advisors LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

LVW Advisors LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,145 shares of the home improvement retailer's stock after selling 772 shares during the period. LVW Advisors LLC's holdings in Home Depot were worth $2,985,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank bought a new position in Home Depot during the 4th quarter worth approximately $5,032,910,000. Capital Research Global Investors grew its holdings in shares of 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 valued at $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Gordon Haskett boosted their price target on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Piper Sandler dropped their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Royal Bank of Canada reduced their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Finally, TD Securities cut shares of Home Depot to a "buy" rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity at Home Depot

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

Home Depot Stock Up 1.5%

NYSE HD traded up $5.41 during trading hours on Tuesday, reaching $373.37. 3,355,699 shares of the company traded hands, compared to its average volume of 3,419,875. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12 month low of $323.93 and a 12 month high of $439.37. The company has a 50 day moving average of $361.04 and a two-hundred day moving average of $385.45. The stock has a market capitalization of $371.48 billion, a PE ratio of 25.37, a PEG ratio of 4.03 and a beta of 1.05.

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 the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 earnings per share. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.46%. Home Depot's dividend payout ratio (DPR) 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.