The Home Depot, Inc. (NYSE:HD) Shares Sold by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC lessened its position in The Home Depot, Inc. (NYSE:HD) by 5.8% in the 1st quarter, Holdings Channel reports. The fund owned 2,415 shares of the home improvement retailer’s stock after selling 150 shares during the period. Merrion Investment Management Co LLC’s holdings in Home Depot were worth $885,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brady Martz Wealth Solutions LLC lifted its holdings in shares of Home Depot by 1.6% in the 1st quarter. Brady Martz Wealth Solutions LLC now owns 6,575 shares of the home improvement retailer’s stock valued at $2,409,000 after buying an additional 104 shares during the period. CLG LLC grew its holdings in Home Depot by 3.5% during the first quarter. CLG LLC now owns 1,704 shares of the home improvement retailer’s stock worth $624,000 after acquiring an additional 58 shares during the period. Norris Perne & French LLP MI raised its position in Home Depot by 1.3% in the first quarter. Norris Perne & French LLP MI now owns 52,866 shares of the home improvement retailer’s stock worth $19,375,000 after acquiring an additional 695 shares in the last quarter. Silver Oak Securities Incorporated lifted its holdings in Home Depot by 45.9% in the first quarter. Silver Oak Securities Incorporated now owns 10,725 shares of the home improvement retailer’s stock valued at $3,841,000 after acquiring an additional 3,372 shares during the period. Finally, ORG Wealth Partners LLC boosted its position in shares of Home Depot by 458.5% during the 1st quarter. ORG Wealth Partners LLC now owns 5,172 shares of the home improvement retailer’s stock worth $1,896,000 after purchasing an additional 4,246 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $346.41 on Thursday. The stock has a market capitalization of $344.65 billion, a P/E ratio of 23.50, a P/E/G ratio of 3.32 and a beta of 1.02. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm’s 50-day moving average is $362.86 and its two-hundred day moving average is $381.18.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HD. Wells Fargo & Company cut their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Truist Financial increased their target price on shares of Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Sanford C. Bernstein reissued a “market perform” rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. DA Davidson lowered their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Finally, Jefferies Financial Group reduced their price objective on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Seven investment 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. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares in the company, 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. Insiders own 0.10% of the company’s stock.

About Home Depot

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.