Flynn Zito Capital Management LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Flynn Zito Capital Management LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 9.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,211 shares of the home improvement retailer’s stock after selling 226 shares during the quarter. Home Depot comprises 0.5% of Flynn Zito Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Flynn Zito Capital Management LLC’s holdings in Home Depot were worth $766,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. Optas LLC boosted its position in Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock valued at $607,000 after purchasing an additional 29 shares during the last quarter. Harvest Investment Advisors LLC boosted its position in Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock valued at $1,153,000 after purchasing an additional 30 shares during the last quarter. Armstrong Henry H Associates Inc. boosted its position in Home Depot by 0.3% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock valued at $3,778,000 after purchasing an additional 30 shares during the last quarter. CGC Financial Services LLC boosted its position in Home Depot by 4.3% during the fourth quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock valued at $250,000 after purchasing an additional 30 shares during the last quarter. Finally, Independent Investors Inc. lifted its position in shares of Home Depot by 0.5% in the fourth quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock worth $2,097,000 after buying an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

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

Home Depot Trading Up 0.7 %

Shares of HD opened at $335.36 on Friday. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The firm has a market capitalization of $332.35 billion, a price-to-earnings ratio of 22.21, a P/E/G ratio of 2.22 and a beta of 0.98. The stock’s 50-day moving average price is $367.36 and its 200 day moving average price is $339.21.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.30 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.68%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s payout ratio is presently 59.60%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $417.00 price target on shares of Home Depot in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating and issued a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. Telsey Advisory Group boosted their price target on Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a research report on Monday, April 1st. TD Cowen boosted their price target on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, Royal Bank of Canada boosted their price target on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $375.96.

About Home Depot

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.