Los Angeles Capital Management LLC Sells 296,320 Shares of The Home Depot, Inc. (NYSE:HD)

Los Angeles Capital Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 34.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 554,515 shares of the home improvement retailer’s stock after selling 296,320 shares during the period. Los Angeles Capital Management LLC owned 0.05% of Home Depot worth $165,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Rinkey Investments acquired a new stake in Home Depot during the 4th quarter valued at approximately $25,000. Shore Point Advisors LLC acquired a new stake in Home Depot during the 4th quarter valued at approximately $26,000. Tobam acquired a new stake in Home Depot during the 1st quarter valued at approximately $27,000. Fairfield Bush & CO. purchased a new position in shares of Home Depot during the 1st quarter valued at approximately $27,000. Finally, Barnett & Company Inc. grew its position in Home Depot by 173.1% during the fourth quarter. Barnett & Company Inc. now owns 71 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 45 shares during the period. 70.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Hector A. Padilla sold 136 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total value of $39,335.28. Following the sale, the executive vice president now directly owns 11,230 shares of the company’s stock, valued at approximately $3,248,052.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Hector A. Padilla sold 136 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total value of $39,335.28. Following the sale, the executive vice president now directly owns 11,230 shares of the company’s stock, valued at approximately $3,248,052.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Becker Caryn Seidman purchased 1,500 shares of Home Depot stock in a transaction dated Monday, May 23rd. The stock was bought at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following the completion of the purchase, the director now directly owns 1,500 shares in the company, valued at approximately $431,595. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Home Depot from $365.00 to $350.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Piper Sandler lifted their price objective on shares of Home Depot from $310.00 to $321.00 and gave the company a “neutral” rating in a report on Wednesday, May 18th. MKM Partners initiated coverage on shares of Home Depot in a report on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price objective for the company. Wedbush cut their price objective on shares of Home Depot from $340.00 to $320.00 and set a “neutral” rating for the company in a report on Wednesday, May 18th. Finally, Jefferies Financial Group cut their price objective on shares of Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $368.45.

Home Depot Price Performance

NYSE:HD opened at $309.69 on Friday. The firm has a market capitalization of $318.29 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.00 and a beta of 0.99. The company’s 50-day moving average is $290.90 and its two-hundred day moving average is $310.73. The Home Depot, Inc. has a 1-year low of $264.51 and a 1-year high of $420.61.

Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.42. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $36.78 billion. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.60%. Home Depot’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.86 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 16.43 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Wednesday, June 1st. Home Depot’s dividend payout ratio (DPR) is 48.25%.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.