Brown Advisory Inc. Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Brown Advisory Inc. reduced its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 75.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,858 shares of the home improvement retailer's stock after selling 1,050,358 shares during the quarter. Brown Advisory Inc.'s holdings in Home Depot were worth $116,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HD. Charles Schwab Investment Management Inc. lifted its stake in Home Depot by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer's stock worth $4,540,197,000 after acquiring an additional 347,614 shares during the last quarter. Northern Trust Corp grew its stake in shares of Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer's stock worth $3,730,889,000 after purchasing an additional 153,141 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Home Depot by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer's stock valued at $3,050,363,000 after buying an additional 195,670 shares during the last quarter. International Assets Investment Management LLC raised its stake in Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer's stock valued at $1,930,104,000 after buying an additional 5,525,791 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Home Depot by 38.4% during the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer's stock worth $1,506,659,000 after buying an additional 1,207,388 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of NYSE HD traded up $1.48 during midday trading on Friday, hitting $344.21. The company had a trading volume of 2,739,006 shares, compared to its average volume of 3,515,366. The company has a quick ratio of 0.40, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The business has a 50-day simple moving average of $354.88 and a two-hundred day simple moving average of $346.17. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The firm has a market capitalization of $341.12 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 2.30 and a beta of 1.01.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $3.82 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.3 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, May 30th. Home Depot's dividend payout ratio (DPR) is presently 60.36%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HD. The Goldman Sachs Group upped their price target on Home Depot from $347.00 to $393.00 and gave the company a "buy" rating in a report on Tuesday, February 13th. Wedbush reiterated an "outperform" rating and set a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. Evercore ISI upped their price objective on shares of Home Depot from $415.00 to $420.00 and gave the company an "outperform" rating in a research note on Tuesday. HSBC cut their target price on Home Depot from $323.00 to $318.00 and set a "reduce" rating on the stock in a research report on Wednesday. Finally, Truist Financial cut their price target on Home Depot from $417.00 to $406.00 and set a "buy" rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $377.46.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.