Desjardins Global Asset Management Inc. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Desjardins Global Asset Management Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 18.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,256 shares of the home improvement retailer’s stock after selling 1,205 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Home Depot were worth $1,821,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the 1st quarter worth $27,000. KB Financial Partners LLC acquired a new stake in Home Depot in the first quarter valued at approximately $28,000. Keener Financial Planning LLC acquired a new position in shares of Home Depot during the fourth quarter worth $31,000. PFG Private Wealth Management LLC lifted its holdings in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Studio Investment Management LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HD shares. DA Davidson restated a “neutral” rating and set a $370.00 price objective on shares of Home Depot in a report on Monday, April 1st. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $325.00 to $372.00 in a research note on Thursday, January 4th. Truist Financial restated a “buy” rating and issued a $417.00 price objective on shares of Home Depot in a research note on Wednesday. Evercore ISI dropped their target price on Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada raised their price target on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Home Depot Stock Down 0.6 %

HD stock opened at $332.83 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The firm has a 50-day moving average of $368.54 and a two-hundred day moving average of $339.01. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a market cap of $329.84 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.23 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.30 earnings per share. As a group, analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were given a dividend of $2.25 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.