Los Angeles Capital Management LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Los Angeles Capital Management LLC cut its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 34.8% during the first quarter, HoldingsChannel reports. The firm owned 554,515 shares of the home improvement retailer’s stock after selling 296,320 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Home Depot were worth $165,983,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HD. Rinkey Investments acquired a new position in shares of Home Depot in the 4th quarter valued at $25,000. Shore Point Advisors LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $26,000. Tobam acquired a new position in shares of Home Depot in the 1st quarter valued at $27,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the 1st quarter valued at $27,000. Finally, Barnett & Company Inc. boosted its holdings in shares of Home Depot by 173.1% in the 4th quarter. Barnett & Company Inc. now owns 71 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 45 shares in the last quarter. 70.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Hector A. Padilla sold 136 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $289.23, for a total transaction of $39,335.28. Following the completion of the transaction, the executive vice president now directly owns 11,230 shares in the company, valued at approximately $3,248,052.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Home Depot news, EVP Hector A. Padilla sold 136 shares of the firm’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $289.23, for a total transaction of $39,335.28. Following the sale, the executive vice president now directly owns 11,230 shares of the company’s stock, valued at approximately $3,248,052.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Becker Caryn Seidman purchased 1,500 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were purchased at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following the completion of the purchase, the director now directly owns 1,500 shares in the company, valued at $431,595. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HD. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday, May 27th. Jefferies Financial Group lowered their target price on shares of Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 18th. Piper Sandler increased their price target on shares of Home Depot from $310.00 to $321.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 18th. Truist Financial decreased their price target on shares of Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Finally, MKM Partners initiated coverage on shares of Home Depot in a research note on Thursday, June 23rd. They set a “neutral” rating and a $285.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $368.45.

Home Depot Stock Up 0.8 %

Shares of HD opened at $309.69 on Friday. The company has a 50-day simple moving average of $290.90 and a 200-day simple moving average of $310.73. The company has a market capitalization of $318.29 billion, a PE ratio of 19.66, a P/E/G ratio of 2.00 and a beta of 0.99. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $420.61.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.67 by $0.42. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.60%. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $36.78 billion. During the same quarter last year, the firm posted $3.86 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 16.43 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were issued a dividend of $1.90 per share. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $7.60 annualized dividend and a yield of 2.45%. Home Depot’s dividend payout ratio (DPR) is currently 48.25%.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.