The Home Depot, Inc. (NYSE:HD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 16.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,254,918 shares of the home improvement retailer’s stock after selling 1,974,142 shares during the period. Home Depot makes up approximately 0.7% of Wellington Management Group LLP’s investment portfolio, making the stock its 28th largest position. Wellington Management Group LLP’s holdings in Home Depot were worth $3,553,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Bare Financial Services Inc acquired a new position in Home Depot in the 4th quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot in the 4th quarter valued at about $27,000. Keener Financial Planning LLC acquired a new position in Home Depot in the 4th quarter valued at about $31,000. PFG Private Wealth Management LLC raised 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 purchasing an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in Home Depot in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 0.3 %

Shares of NYSE HD traded down $1.04 during mid-day trading on Friday, hitting $346.84. 2,588,960 shares of the company traded hands, compared to its average volume of 3,346,942. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The stock has a market capitalization of $343.93 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.39 and a beta of 1.00. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The business has a 50 day moving average of $337.58 and a two-hundred day moving average of $351.28.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. During the same period in the prior year, the business posted $3.82 earnings per share. Home Depot’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HD. Bank of America boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Truist Financial lowered their price target on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Tuesday, May 14th. Finally, Guggenheim restated a “buy” rating and issued a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.46.

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.