Foster Victor Wealth Advisors LLC Reduces Stake in The Home Depot, Inc. (NYSE:HD)



Foster Victor Wealth Advisors LLC reduced its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 22.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,715 shares of the home improvement retailer’s stock after selling 784 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Home Depot were worth $811,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Minot Wealth Management LLC increased its stake in Home Depot by 2.2% in the 1st quarter. Minot Wealth Management LLC now owns 23,555 shares of the home improvement retailer’s stock valued at $7,051,000 after purchasing an additional 496 shares in the last quarter. TPG Financial Advisors LLC grew its holdings in Home Depot by 19.2% during the 1st quarter. TPG Financial Advisors LLC now owns 2,524 shares of the home improvement retailer’s stock valued at $756,000 after buying an additional 407 shares during the last quarter. Stony Point Wealth Management Inc. its holdings in Home Depot grew by 18.4% during the 1st quarter. Stony Point Wealth Management Inc. Now owns 12,715 shares of the home improvement retailer’s stock valued at $3,806,000 after buying an additional 1,976 shares during the last quarter. Bender Robert & Associates grew its holdings in Home Depot by 6.2% during the 1st quarter. Bender Robert & Associates now owns 9,928 shares of the home improvement retailer’s stock valued at $2,972,000 after buying an additional 576 shares during the last quarter. Finally, DeDora Capital Inc. acquired a new stake in Home Depot during the 1st quarter valued at $3,630,000. 70.61% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE HD opened at $282.69 on Tuesday. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. The firm has a market cap of $290.54 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.70 and a beta of 0.97. The company has a debt-to-equity ratio of 35.47, a quick ratio of 0.28 and a current ratio of 1.11. The stock’s 50-day simple moving average is $294.26 and its 200-day simple moving average is $330.67.

Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.42. Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $36.78 billion. During the same period in the previous year, the company earned $3.86 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 16.47 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were paid a $1.90 dividend. The ex-dividend date was Wednesday, June 1st. This represents a $7.60 dividend on an annualized basis and a yield of 2.69%. Home Depot’s dividend payout ratio (DPR) is 48.25%.

Several equities research analysts have recently issued reports on HD shares. Trust Financial decreased their objective price on Home Depot from $405.00 to $375.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Friday, May 27th. DA Davidson decreased their objective price on Home Depot from $354.00 to $330.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Piper Sandler raised their objective price on Home Depot from $310.00 to $321.00 and gave the stock a “neutral” rating in a report on Wednesday, May 18th. Finally, Citigroup raised their objective price on Home Depot from $327.00 to $348.00 in a report on Friday, May 20th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $369.82.

In other Home Depot news, EVP Ann Marie Campbell sold 11,293 shares of Home Depot stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $288.03, for a total value of $3,252,722.79. Following the completion of the transaction, the executive vice president now directly owns 51,175 shares in the company, valued at $14,739,935.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Hector A. Padilla sold 136 shares of Home Depot stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total value of $39,335.28. Following the completion of the transaction, the executive vice president now owns 11,230 shares of the company’s stock, valued at $3,248,052.90. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

About Home Depot (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Get Rating).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)



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