Congress Asset Management Co. Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Congress Asset Management Co. reduced its stake in The Home Depot, Inc. (NYSE:HD) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 396,254 shares of the home improvement retailer’s stock after selling 3,208 shares during the period. Home Depot accounts for about 1.1% of Congress Asset Management Co.’s holdings, making the stock its 20th biggest position. Congress Asset Management Co.’s holdings in Home Depot were worth $145,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after acquiring an additional 257,036 shares during the last quarter. Norges Bank purchased a new position in shares of Home Depot during the fourth quarter worth approximately $5,032,910,000. Capital Research Global Investors grew its position in shares of Home Depot by 5.5% during the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after acquiring an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HD shares. Truist Financial raised their target price on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research report on Tuesday, May 20th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company decreased their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was 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 represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $367.45 on Friday. The Home Depot, Inc. has a one year low of $323.93 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The business has a fifty day moving average of $361.63 and a two-hundred day moving average of $384.72. The company has a market cap of $365.59 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $3.63 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

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.