Exchange Capital Management Inc. Sells 234 Shares of The Home Depot, Inc. (NYSE:HD)

Exchange Capital Management Inc. reduced its position in The Home Depot, Inc. (NYSE:HD) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,412 shares of the home improvement retailer’s stock after selling 234 shares during the period. Home Depot makes up 1.1% of Exchange Capital Management Inc.’s investment portfolio, making the stock its 27th largest holding. Exchange Capital Management Inc.’s holdings in Home Depot were worth $6,679,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Home Depot during the 4th quarter valued at $4,311,070,000. International Assets Investment Management LLC increased its position in shares of Home Depot by 12,647.4% during the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the last quarter. Jennison Associates LLC increased its position in shares of Home Depot by 38.4% during the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after purchasing an additional 1,207,388 shares during the last quarter. Capital Research Global Investors increased its position in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after purchasing an additional 992,444 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Home Depot by 38.9% during the 4th quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock valued at $613,258,000 after purchasing an additional 495,894 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.4 %

Shares of HD traded down $1.45 during mid-day trading on Tuesday, hitting $334.74. 1,806,266 shares of the company’s stock traded hands, compared to its average volume of 3,446,556. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The firm has a market capitalization of $331.93 billion, a P/E ratio of 22.46, a PEG ratio of 2.38 and a beta of 0.99. The business’s 50-day moving average price is $338.51 and its 200-day moving average price is $352.80.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the previous year, the firm earned $3.82 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $2.25 dividend. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s payout ratio is 60.36%.

Insider Buying and Selling

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on HD. UBS Group decreased their price objective on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Truist Financial reduced their target price on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Bank of America lifted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $378.42.

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.