ForthRight Wealth Management LLC Has $2.15 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

ForthRight Wealth Management LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,853 shares of the home improvement retailer’s stock after selling 255 shares during the quarter. Home Depot comprises 0.7% of ForthRight Wealth Management LLC’s holdings, making the stock its 22nd largest holding. ForthRight Wealth Management LLC’s holdings in Home Depot were worth $2,145,000 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 HD. K.J. Harrison & Partners Inc increased its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Wealth Management Partners LLC increased its holdings in Home Depot by 0.6% in the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after purchasing an additional 36 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares in the last quarter. Disciplined Investors L.L.C. bought a new stake in Home Depot in the fourth quarter worth approximately $409,000. Finally, ARS Wealth Advisors Group LLC increased its holdings in Home Depot by 0.8% in the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after purchasing an additional 239 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HD. Mizuho decreased their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Gordon Haskett boosted their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven research 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. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Stock Down 2.1%

Shares of NYSE HD opened at $360.35 on Thursday. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. 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’s fifty day moving average price is $361.89 and its 200-day moving average price is $383.78. The stock has a market capitalization of $358.52 billion, a PE ratio of 24.48, a P/E/G ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last issued its quarterly 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). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the prior year, the company earned $3.63 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current 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 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 2.55%. Home Depot’s dividend payout ratio (DPR) is 62.42%.

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 stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $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 is available through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s 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. This represents a 24.64% decrease in their ownership of the stock. 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.