Westside Investment Management Inc. Sells 139 Shares of The Home Depot, Inc. (NYSE:HD)

Westside Investment Management Inc. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,226 shares of the home improvement retailer’s stock after selling 139 shares during the period. Westside Investment Management Inc.’s holdings in Home Depot were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royal London Asset Management Ltd. raised its position in Home Depot by 24.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 620,297 shares of the home improvement retailer’s stock valued at $187,358,000 after purchasing an additional 121,315 shares during the last quarter. Industrial Alliance Investment Management Inc. raised its position in Home Depot by 119.8% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 2,945 shares of the home improvement retailer’s stock valued at $890,000 after purchasing an additional 1,605 shares during the last quarter. Baker Avenue Asset Management LP raised its position in Home Depot by 5.7% in the 3rd quarter. Baker Avenue Asset Management LP now owns 22,859 shares of the home improvement retailer’s stock valued at $6,907,000 after purchasing an additional 1,235 shares during the last quarter. Adalta Capital Management LLC raised its position in Home Depot by 0.4% in the 3rd quarter. Adalta Capital Management LLC now owns 28,152 shares of the home improvement retailer’s stock valued at $8,507,000 after purchasing an additional 99 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its position in shares of Home Depot by 31.4% during the third quarter. Crestwood Advisors Group LLC now owns 286,370 shares of the home improvement retailer’s stock worth $86,530,000 after acquiring an additional 68,354 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HD. Truist Financial dropped their target price on Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Guggenheim restated a “buy” rating and set a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. Finally, Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. One investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Insider Activity

In related news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by company insiders.

Home Depot Price Performance

Home Depot stock opened at $333.58 on Thursday. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock’s 50 day moving average is $338.43 and its 200-day moving average is $352.56. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The company has a market capitalization of $330.78 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.31 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 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 company had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. During the same quarter in the prior year, the business earned $3.82 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

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.