WCM Investment Management LLC Sells 3,243 Shares of The Home Depot, Inc. (NYSE:HD)

WCM Investment Management LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,909 shares of the home improvement retailer's stock after selling 3,243 shares during the quarter. WCM Investment Management LLC's holdings in Home Depot were worth $2,833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Navigoe LLC purchased a new position in Home Depot during the 4th quarter worth $29,000. Quarry LP increased its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares during the period. Sellwood Investment Partners LLC purchased a new position in shares of Home Depot during the fourth quarter valued at $39,000. NewSquare Capital LLC raised its holdings in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock valued at $40,000 after acquiring an additional 68 shares in the last quarter. Finally, Spurstone Advisory Services LLC purchased a new stake in Home Depot in the fourth quarter worth about $45,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HD has been the topic of a number of research reports. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Truist Financial upped their target price on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Sanford C. Bernstein restated a "market perform" rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $420.00 price target on Home Depot and gave the company an "overweight" rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value 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 $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was 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 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 company insiders.

Home Depot Stock Performance

Shares of HD opened at $372.05 on Thursday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock has a 50-day moving average of $364.63 and a two-hundred day moving average of $376.86. The stock has a market cap of $370.16 billion, a P/E ratio of 25.24, a P/E/G ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the firm earned $3.63 EPS. The company's revenue for the quarter 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 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Home Depot 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.

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