Birchcreek Wealth Management LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Birchcreek Wealth Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,851 shares of the home improvement retailer’s stock after selling 179 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Home Depot were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in HD. Keener Financial Planning LLC acquired a new stake in Home Depot in the 4th quarter valued at $31,000. PFG Private Wealth Management LLC grew its stake in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares during the period. Gilfoyle & Co LLC acquired a new stake in Home Depot in the 4th quarter valued at $35,000. Briaud Financial Planning Inc acquired a new stake in Home Depot during the 3rd quarter worth $41,000. Finally, Quantbot Technologies LP acquired a new stake in Home Depot during the 3rd quarter worth $64,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 0.2 %

NYSE:HD traded up $0.66 on Monday, reaching $335.75. 981,843 shares of the company’s stock were exchanged, compared to its average volume of 3,325,474. 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 $332.73 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The business has a fifty day moving average of $364.77 and a 200-day moving average of $341.27. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

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

Home Depot Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on HD. Royal Bank of Canada lifted their target price on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Truist Financial reaffirmed a “buy” rating and set a $417.00 target price on shares of Home Depot in a research note on Wednesday, April 17th. Stifel Nicolaus lifted their target price on shares of Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group lifted their target price on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Buying and Selling

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

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.