Perennial Advisors LLC Sells 242 Shares of The Home Depot, Inc. (NYSE:HD)

Perennial Advisors LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,178 shares of the home improvement retailer’s stock after selling 242 shares during the quarter. Perennial Advisors LLC’s holdings in Home Depot were worth $5,196,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the fourth quarter worth approximately $28,000. Navigoe LLC bought a new position in Home Depot in the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the fourth quarter worth approximately $32,000. Quarry LP grew its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares in the last quarter. Finally, Marshall Investment Management LLC bought a new position in Home Depot in the fourth quarter worth approximately $41,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $367.45 on Friday. The firm has a market capitalization of $365.59 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. 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 business has a fifty day moving average of $361.63 and a 200 day moving average of $384.62. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for 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 business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.63 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid 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 dividend yield of 2.50%. Home Depot’s payout ratio is currently 62.42%.

Insider Buying and Selling 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 value of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated 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 completion of the transaction, 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. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. Truist Financial increased their target price on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on Home Depot and gave the company an “outperform” rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. increased their target price on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada dropped their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. Seven investment 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

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.