The Home Depot, Inc. (NYSE:HD) Stake Lessened by OLD National Bancorp IN

OLD National Bancorp IN lessened its stake in The Home Depot, Inc. (NYSE:HD) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,131 shares of the home improvement retailer’s stock after selling 892 shares during the period. OLD National Bancorp IN’s holdings in Home Depot were worth $8,111,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s 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 sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were 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 directly owns 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $367.45 on Friday. The company has a market capitalization of $365.59 billion, a P/E ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The company has a 50-day simple moving average of $361.63 and a 200 day simple moving average of $384.62. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during 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 business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.63 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Truist Financial boosted their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $426.77.

Home Depot 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.