Victory Capital Management Inc. Cuts Position in The Home Depot, Inc. (NYSE:HD)

Victory Capital Management Inc. decreased its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 23.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 487,155 shares of the home improvement retailer's stock after selling 150,083 shares during the quarter. Victory Capital Management Inc.'s holdings in Home Depot were worth $178,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Brighton Jones LLC lifted its holdings in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after buying an additional 7,203 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after acquiring an additional 565 shares in the last quarter. Evoke Wealth LLC lifted its stake in shares of Home Depot by 2.0% in the 4th quarter. Evoke Wealth LLC now owns 4,128 shares of the home improvement retailer's stock valued at $1,606,000 after purchasing an additional 80 shares during the period. Brooklyn FI LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $2,312,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Home Depot in the fourth quarter worth $996,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

NYSE:HD traded up $0.28 on Friday, hitting $359.32. The stock had a trading volume of 3,360,799 shares, compared to its average volume of 3,572,560. The business's 50-day simple moving average is $366.09 and its two-hundred day simple moving average is $374.69. The stock has a market cap of $357.50 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 3.40 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 quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

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 (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the firm posted $3.63 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.56%. Home Depot's dividend payout ratio is currently 62.42%.

Insider Buying and Selling at Home Depot

In related 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 completion of 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 transaction 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 completion of the transaction, the executive vice president owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. The trade was a 24.64% 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 insiders.

Analyst Ratings Changes

Several equities analysts have commented on HD shares. Truist Financial raised their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research report on Monday, June 30th. Piper Sandler cut their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Mizuho decreased their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Finally, Robert W. Baird dropped their price target on Home Depot from $430.00 to $425.00 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 have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.