Westwood Holdings Group Inc. Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Westwood Holdings Group Inc. reduced its stake in The Home Depot, Inc. by 4.1%, selling 3,545 shares and now holding 83,416 shares valued at approximately $30.57 million.
• Several institutional investors have recently increased their positions, with Brighton Jones LLC boosting its stake by 36.5%, now owning shares worth over $10 million.
• Home Depot reported $39.86 billion in revenue for the last quarter, exceeding analysts' expectations, despite missing EPS estimates with earnings of $3.56 per share.

Westwood Holdings Group Inc. lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 83,416 shares of the home improvement retailer's stock after selling 3,545 shares during the period. Westwood Holdings Group Inc.'s holdings in Home Depot were worth $30,571,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after purchasing an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Home Depot by 4.9% during 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 purchasing an additional 565 shares during the last quarter. Shelton Capital Management increased its position in shares of Home Depot by 18.7% during the 4th quarter. Shelton Capital Management now owns 51,038 shares of the home improvement retailer's stock worth $19,853,000 after purchasing an additional 8,058 shares during the last quarter. FIL Ltd increased its position in shares of Home Depot by 14.3% during the 4th quarter. FIL Ltd now owns 120,618 shares of the home improvement retailer's stock worth $46,919,000 after purchasing an additional 15,075 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Home Depot by 34.0% during the 4th quarter. Bank of Nova Scotia now owns 376,808 shares of the home improvement retailer's stock worth $146,616,000 after purchasing an additional 95,586 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Buying and Selling

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business'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 value of $954,564.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's 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 transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim reissued a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Gordon Haskett lifted their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Truist Financial lifted their target price on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Price Performance

HD stock opened at $385.23 on Wednesday. The business has a 50 day moving average price of $366.50 and a 200 day moving average price of $372.80. The stock has a market cap of $383.28 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 3.62 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two 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 posted 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). The business 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 242.51% and a net margin of 8.98%. Home Depot's revenue for the quarter 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. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued 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 2.4%. Home Depot's payout ratio is presently 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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