Royal Fund Management LLC Sells 295 Shares of The Home Depot, Inc. (NYSE:HD)

Royal Fund Management LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,573 shares of the home improvement retailer’s stock after selling 295 shares during the period. Royal Fund Management LLC’s holdings in Home Depot were worth $1,238,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bare Financial Services Inc purchased a new position in shares of Home Depot during the 4th quarter worth about $26,000. Keener Financial Planning LLC purchased a new position in shares of Home Depot during the 4th quarter worth about $31,000. PFG Private Wealth Management LLC boosted its position in Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 32 shares during the period. Gilfoyle & Co LLC purchased a new stake in Home Depot in the 4th quarter valued at about $35,000. Finally, Briaud Financial Planning Inc purchased a new stake in Home Depot in the 3rd quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of NYSE HD traded up $7.32 during midday trading on Friday, reaching $342.85. The company had a trading volume of 4,165,054 shares, compared to its average volume of 3,606,830. The business’s 50-day simple moving average is $361.75 and its 200 day simple moving average is $342.08. The stock has a market cap of $339.77 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.23 and a beta of 1.01. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year 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.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $3.30 earnings per share. On average, analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were issued a $2.25 dividend. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.63%. Home Depot’s payout ratio is presently 59.60%.

Analyst Ratings Changes

HD has been the subject of several research reports. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Stifel Nicolaus boosted 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. Bank of America boosted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Guggenheim reissued a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.96.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 35,987 shares of the business’s 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 completion of 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 document filed with the SEC, which is accessible through the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot 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.