Trust Point Inc. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Trust Point Inc. cut its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 13.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,843 shares of the home improvement retailer's stock after selling 1,042 shares during the quarter. Trust Point Inc.'s holdings in Home Depot were worth $2,508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cyndeo Wealth Partners LLC boosted its position in Home Depot by 9.0% during the first quarter. Cyndeo Wealth Partners LLC now owns 43,735 shares of the home improvement retailer's stock worth $16,029,000 after purchasing an additional 3,598 shares during the period. Hanson & Doremus Investment Management grew its position in shares of Home Depot by 28.5% in the first quarter. Hanson & Doremus Investment Management now owns 2,610 shares of the home improvement retailer's stock valued at $957,000 after purchasing an additional 579 shares in the last quarter. Traphagen Investment Advisors LLC lifted its holdings in Home Depot by 6.4% during the 1st quarter. Traphagen Investment Advisors LLC now owns 9,015 shares of the home improvement retailer's stock worth $3,304,000 after purchasing an additional 539 shares in the last quarter. Abound Wealth Management boosted its stake in Home Depot by 5.5% in the 1st quarter. Abound Wealth Management now owns 651 shares of the home improvement retailer's stock worth $239,000 after purchasing an additional 34 shares during the period. Finally, Good Life Advisors LLC grew its holdings in Home Depot by 4.6% during the 1st quarter. Good Life Advisors LLC now owns 5,768 shares of the home improvement retailer's stock valued at $2,114,000 after buying an additional 256 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Home Depot stock traded down $2.37 during midday trading on Thursday, reaching $346.41. 4,424,277 shares of the stock traded hands, compared to its average volume of 3,419,350. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. 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 stock's fifty day moving average is $362.86 and its 200-day moving average is $381.18. The stock has a market cap of $344.65 billion, a P/E ratio of 23.50, a PEG ratio of 3.32 and a beta of 1.02.

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 (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.63 EPS. As a group, equities research 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. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.66%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HD shares. Telsey Advisory Group reaffirmed an "outperform" rating on shares of Home Depot in a report on Monday, June 2nd. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Truist Financial lifted their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Mizuho lowered their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. 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. According to MarketBeat.com, Home Depot presently has an average rating of "Moderate Buy" and an average price target of $426.77.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 sale, the executive vice president now owns 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $954,564.00. Following the completion of 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 represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

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.