Shelton Wealth Management LLC Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Shelton Wealth Management LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 31.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 834 shares of the home improvement retailer’s stock after selling 380 shares during the quarter. Shelton Wealth Management LLC’s holdings in Home Depot were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 3rd quarter valued at about $41,000. Livelsberger Financial Advisory bought a new position in Home Depot during the third quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Home Depot during the second quarter worth approximately $47,000. Quarry LP lifted its holdings in shares of Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares during the last quarter. Finally, Semmax Financial Advisors Inc. boosted its stake in shares of Home Depot by 111.3% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 150 shares of the home improvement retailer’s stock valued at $53,000 after purchasing an additional 79 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 over the last three months. Insiders own 0.10% of the company’s stock.

Home Depot Trading Up 0.0 %

NYSE:HD opened at $409.42 on Monday. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market cap of $406.70 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.11 and a beta of 1.05. The company’s 50 day moving average price is $406.51 and its 200-day moving average price is $387.81. 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 results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s dividend payout ratio is presently 61.14%.

Analysts Set New Price Targets

HD has been the subject of several recent research reports. Piper Sandler boosted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Barclays increased their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. Truist Financial raised their price target on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Royal Bank of Canada upped their price objective on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

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.