Capital Asset Advisory Services LLC Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Capital Asset Advisory Services LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 8.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 19,068 shares of the home improvement retailer’s stock after selling 1,741 shares during the period. Capital Asset Advisory Services LLC’s holdings in Home Depot were worth $7,072,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after acquiring an additional 257,036 shares during the period. Norges Bank bought a new position in shares of Home Depot in the fourth quarter valued at approximately $5,032,910,000. Capital Research Global Investors boosted its position in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after acquiring an additional 647,552 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Trading Down 0.1%

Shares of HD opened at $367.86 on Tuesday. The firm has a market cap of $365.99 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The firm has a 50 day moving average price of $361.04 and a 200-day moving average price of $385.45.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Analyst Ratings Changes

A number of research firms have recently commented on HD. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Piper Sandler cut 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 report on Monday, March 24th. Morgan Stanley restated an “overweight” rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Robert W. Baird cut their price objective on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada cut their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot presently 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.