Cynosure Group LLC Sells 371 Shares of The Home Depot, Inc. (NYSE:HD)

Cynosure Group LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 37.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628 shares of the home improvement retailer’s stock after selling 371 shares during the quarter. Cynosure Group LLC’s holdings in Home Depot were worth $241,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Capital Research Global Investors grew its position in shares of Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Home Depot by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock worth $4,540,197,000 after buying an additional 347,614 shares during the last quarter. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter worth approximately $4,311,070,000. Fisher Asset Management LLC grew its position in shares of Home Depot by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after buying an additional 195,670 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Home Depot by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,465,972 shares of the home improvement retailer’s stock worth $2,240,783,000 after purchasing an additional 82,672 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Trading Down 0.5 %

Shares of HD traded down $1.87 during mid-day trading on Tuesday, reaching $361.38. The stock had a trading volume of 1,239,066 shares, compared to its average volume of 3,415,423. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The business’s fifty day moving average is $342.24 and its 200 day moving average is $353.06. The firm has a market cap of $358.35 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 2.51 and a beta of 0.99.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the prior year, the firm posted $3.82 earnings per share. Home Depot’s quarterly revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.3 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HD. Stifel Nicolaus boosted their target price on shares of Home Depot from $374.00 to $380.00 and gave the stock a “hold” rating in a research report on Monday, July 15th. Citigroup dropped their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Truist Financial dropped their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Guggenheim reissued a “buy” rating and set a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Finally, Wedbush restated an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $380.58.

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.