Western Financial Corp CA Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Western Financial Corp CA trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 53.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,515 shares of the home improvement retailer’s stock after selling 2,866 shares during the quarter. Western Financial Corp CA’s holdings in Home Depot were worth $922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. K.J. Harrison & Partners Inc increased its holdings in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Wealth Management Partners LLC increased its holdings in Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after purchasing an additional 36 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares during the period. Disciplined Investors L.L.C. purchased a new position in Home Depot during the 4th quarter worth $409,000. Finally, ARS Wealth Advisors Group LLC increased its holdings in Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after purchasing an additional 239 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several research reports. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Truist Financial lifted their price target on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Piper Sandler cut their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Gordon Haskett lifted their price target on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Stock Performance

Shares of HD opened at $361.96 on Thursday. The stock has a 50-day moving average of $363.10 and a two-hundred day moving average of $378.66. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock has a market cap of $360.12 billion, a P/E ratio of 24.56, a P/E/G ratio of 3.43 and a beta of 1.02.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the firm posted $3.63 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.54%. Home Depot’s dividend payout ratio is currently 62.42%.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value 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 $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly 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 currently owned by insiders.

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.