MJP Associates Inc. ADV Reduces Position in The Home Depot, Inc. (NYSE:HD)

MJP Associates Inc. ADV decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 39.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,911 shares of the home improvement retailer’s stock after selling 1,223 shares during the quarter. MJP Associates Inc. ADV’s holdings in Home Depot were worth $662,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new stake in Home Depot during the 2nd quarter valued at $26,000. Fairfield Bush & CO. acquired a new stake in Home Depot during the first quarter valued at $27,000. KB Financial Partners LLC purchased a new stake in shares of Home Depot during the 1st quarter worth about $28,000. Studio Investment Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the first quarter worth approximately $37,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HD shares. Truist Financial lowered their price target on shares of Home Depot from $387.00 to $386.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $325.00 to $372.00 in a research note on Thursday, January 4th. Robert W. Baird reiterated an “outperform” rating and issued a $370.00 price target on shares of Home Depot in a research report on Wednesday, February 14th. Mizuho assumed coverage on Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 target price on the stock. Finally, TD Cowen lifted their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $368.76.

Home Depot Price Performance

Shares of HD stock traded down $2.29 during mid-day trading on Thursday, hitting $383.60. 4,041,839 shares of the stock traded hands, compared to its average volume of 3,149,935. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The firm has a market cap of $380.16 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99. The company’s 50-day simple moving average is $368.47 and its 200-day simple moving average is $334.54.

Home Depot (NYSE:HD) last announced its 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 company had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. Home Depot’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.30 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.39 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is presently 59.60%.

Insider Buying and Selling

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated 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 $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s 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 sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.