LS Investment Advisors LLC Trims Holdings in The Home Depot, Inc. (NYSE:HD)

LS Investment Advisors LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,815 shares of the home improvement retailer’s stock after selling 1,599 shares during the quarter. Home Depot comprises 3.2% of LS Investment Advisors LLC’s holdings, making the stock its 6th largest holding. LS Investment Advisors LLC’s holdings in Home Depot were worth $20,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wingate Wealth Advisors Inc. bought a new stake in Home Depot during the fourth quarter worth $28,000. Navigoe LLC bought a new stake in Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter worth $32,000. Quarry LP grew its holdings in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares in the last quarter. Finally, Sellwood Investment Partners LLC bought a new stake in Home Depot during the fourth quarter worth $39,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Mizuho decreased their price target on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Telsey Advisory Group restated an “outperform” rating on shares of Home Depot in a research note on Monday. TD Securities downgraded Home Depot to a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company reduced their price objective on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Price Performance

HD stock opened at $372.50 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1 year low of $323.93 and a 1 year high of $439.37. The firm has a 50-day moving average of $361.54 and a 200 day moving average of $385.28. The company has a market cap of $370.61 billion, a P/E ratio of 25.31, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.63 EPS. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.47%. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

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.