Harvey Capital Management Inc. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Harvey Capital Management Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,261 shares of the home improvement retailer’s stock after selling 200 shares during the period. Home Depot makes up about 1.2% of Harvey Capital Management Inc.’s holdings, making the stock its 26th biggest position. Harvey Capital Management Inc.’s holdings in Home Depot were worth $3,556,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Optas LLC raised its stake in shares of Home Depot by 1.7% during the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after buying an additional 29 shares during the last quarter. Harvest Investment Advisors LLC raised its stake in shares of Home Depot by 0.8% during the 3rd quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after buying an additional 30 shares during the last quarter. Armstrong Henry H Associates Inc. raised its stake in shares of Home Depot by 0.3% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after buying an additional 30 shares during the last quarter. CGC Financial Services LLC raised its stake in Home Depot by 4.3% in the 4th quarter. CGC Financial Services LLC now owns 722 shares of the home improvement retailer’s stock valued at $250,000 after purchasing an additional 30 shares during the last quarter. Finally, Independent Investors Inc. raised its stake in Home Depot by 0.5% in the 4th quarter. Independent Investors Inc. now owns 6,052 shares of the home improvement retailer’s stock valued at $2,097,000 after purchasing an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Truist Financial boosted their target price on shares of Home Depot from $386.00 to $417.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Telsey Advisory Group boosted their target price on shares of Home Depot from $335.00 to $360.00 and gave the company a “market perform” rating in a research note on Monday, April 1st. Wells Fargo & Company boosted their target price on shares of Home Depot from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Finally, StockNews.com raised shares of Home Depot from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $376.35.

Home Depot Stock Performance

Shares of HD stock opened at $342.87 on Friday. The company’s fifty day simple moving average is $369.91 and its 200-day simple moving average is $338.32. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The company has a market cap of $339.79 billion, a PE ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter last year, the firm posted $3.30 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Insider Activity at Home Depot

In related 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 sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related 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 sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.