Consolidated Planning Corp Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Consolidated Planning Corp reduced its stake in The Home Depot, Inc. (NYSE:HD) by 14.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,794 shares of the home improvement retailer’s stock after selling 4,221 shares during the quarter. Home Depot makes up 1.7% of Consolidated Planning Corp’s investment portfolio, making the stock its 12th largest holding. Consolidated Planning Corp’s holdings in Home Depot were worth $8,939,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of HD. Keener Financial Planning LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $31,000. PFG Private Wealth Management LLC increased its holdings in Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 32 shares during the period. Gilfoyle & Co LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $35,000. Briaud Financial Planning Inc bought a new position in Home Depot in the 3rd quarter valued at $41,000. Finally, Quantbot Technologies LP bought a new position in shares of Home Depot in the third quarter worth $64,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on HD. StockNews.com raised Home Depot from a “hold” rating to a “buy” rating in a research note on Wednesday. Robert W. Baird reissued an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a report on Wednesday, February 14th. HSBC reaffirmed a “reduce” rating and issued a $323.00 target price on shares of Home Depot in a research note on Wednesday, April 3rd. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $311.00 to $400.00 in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus raised their price objective on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Home Depot Stock Up 0.9 %

Shares of HD stock traded up $3.11 during mid-day trading on Friday, reaching $335.09. 2,465,262 shares of the company’s stock traded hands, compared to its average volume of 3,779,238. The company’s 50-day moving average price is $364.77 and its 200-day moving average price is $340.68. The company has a market cap of $332.08 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 0.98. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87.

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

Home Depot Increases Dividend

The company 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 annualized dividend and a dividend yield of 2.69%. 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 is currently 59.60%.

Insider Activity

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on 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 $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

About Home Depot

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.