MBE Wealth Management LLC Trims Position in The Home Depot, Inc. (NYSE:HD)

MBE Wealth Management LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,001 shares of the home improvement retailer’s stock after selling 141 shares during the period. MBE Wealth Management LLC’s holdings in Home Depot were worth $367,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Navigoe LLC purchased a new position in shares of Home Depot in the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at about $32,000. Quarry LP grew its stake in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the last quarter. Sellwood Investment Partners LLC purchased a new position in Home Depot in the fourth quarter valued at about $39,000. Finally, NewSquare Capital LLC raised its holdings in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.9%

NYSE:HD opened at $350.21 on Friday. The company has a market cap of $348.44 billion, a PE ratio of 23.76, a P/E/G ratio of 3.32 and a beta of 1.02. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company’s 50 day moving average is $362.65 and its two-hundred day moving average is $379.75.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $3.63 earnings per share. Analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $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. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada lowered their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Piper Sandler reduced their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Truist Financial boosted their price objective on shares of Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

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.