The Home Depot, Inc. (NYSE:HD) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,581 shares of the home improvement retailer’s stock after selling 68 shares during the period. Home Depot accounts for approximately 2.9% of Palisade Asset Management LLC’s holdings, making the stock its 4th biggest holding. Palisade Asset Management LLC’s holdings in Home Depot were worth $26,193,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Bare Financial Services Inc bought a new stake in shares of Home Depot in the 4th quarter valued at about $26,000. Keener Financial Planning LLC bought a new stake in Home Depot in the fourth quarter valued at approximately $31,000. PFG Private Wealth Management LLC raised its holdings in Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares during the period. Gilfoyle & Co LLC bought a new position in shares of Home Depot during the fourth quarter worth $35,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Mizuho initiated coverage on Home Depot in a research note on Tuesday, March 19th. They set a “buy” rating and a $415.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th. Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Piper Sandler upgraded shares of Home Depot from a “neutral” rating to an “overweight” rating and upped their price target for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. Finally, Wells Fargo & Company increased their price objective on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.19.

Insiders Place Their Bets

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

Home Depot Stock Performance

Shares of HD stock traded down $1.34 during trading on Wednesday, reaching $339.35. 1,732,144 shares of the company’s stock were exchanged, compared to its average volume of 3,325,923. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The firm’s fifty day moving average price is $360.47 and its 200-day moving average price is $343.54. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The stock has a market capitalization of $336.30 billion, a PE ratio of 22.44, a PEG ratio of 2.28 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate 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 net margin of 9.92% and a return on equity of 1,452.22%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.30 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. 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 2.65%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is currently 59.60%.

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.