Harbor Investment Advisory LLC Decreases Position in The Home Depot, Inc. (NYSE:HD)

Harbor Investment Advisory LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,537 shares of the home improvement retailer’s stock after selling 596 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Home Depot were worth $4,691,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Custom Index Systems LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $229,000. Aspiriant LLC raised its stake in Home Depot by 6.1% during the 4th quarter. Aspiriant LLC now owns 6,796 shares of the home improvement retailer’s stock worth $2,355,000 after acquiring an additional 393 shares in the last quarter. Eagle Strategies LLC acquired a new stake in Home Depot during the 4th quarter worth $217,000. Fingerlakes Wealth Management Inc. raised its stake in Home Depot by 3.6% during the 4th quarter. Fingerlakes Wealth Management Inc. now owns 3,129 shares of the home improvement retailer’s stock worth $1,084,000 after acquiring an additional 110 shares in the last quarter. Finally, Mendel Capital Management LLC raised its stake in Home Depot by 2.3% during the 4th quarter. Mendel Capital Management LLC now owns 3,065 shares of the home improvement retailer’s stock worth $1,062,000 after acquiring an additional 69 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on HD. Evercore ISI raised their price objective on shares of Home Depot from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $311.00 to $400.00 in a research report on Tuesday, January 16th. Barclays raised shares of Home Depot from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, StockNews.com raised shares of Home Depot from a “hold” rating to a “buy” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $376.35.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $342.87 on Friday. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $369.91 and a 200-day simple moving average of $338.08. The firm has a market cap of $339.79 billion, a PE ratio of 22.71, a P/E/G ratio of 2.31 and a beta of 0.98.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the prior year, the business earned $3.30 earnings per share. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

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.