MJP Associates Inc. ADV Sells 1,223 Shares of The Home Depot, Inc. (NYSE:HD)

MJP Associates Inc. ADV reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 39.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor 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 quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Congress Wealth Management LLC DE boosted its holdings in shares of Home Depot by 3.7% in the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after buying an additional 3,162 shares during the last quarter. Psagot Value Holdings Ltd. Israel boosted its stake in shares of Home Depot by 8.0% in the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after acquiring an additional 200 shares during the period. Industrial Alliance Investment Management Inc. lifted its position in Home Depot by 119.8% during the third quarter. Industrial Alliance Investment Management Inc. now owns 2,945 shares of the home improvement retailer’s stock valued at $890,000 after purchasing an additional 1,605 shares during the last quarter. Cape Cod Five Cents Savings Bank lifted its holdings in shares of Home Depot by 96.3% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 72,994 shares of the home improvement retailer’s stock valued at $22,056,000 after acquiring an additional 35,805 shares during the last quarter. Finally, National Pension Service increased its stake in Home Depot by 6.4% during the second quarter. National Pension Service now owns 1,543,616 shares of the home improvement retailer’s stock worth $475,156,000 after acquiring an additional 92,354 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Piper Sandler upgraded Home Depot from a “neutral” rating to an “overweight” rating and increased their price target for the company from $311.00 to $400.00 in a report on Tuesday, January 16th. The Goldman Sachs Group boosted their price target on Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Mizuho started coverage on shares of Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price target for the company. Robert W. Baird reissued an “outperform” rating and set a $370.00 target price on shares of Home Depot in a research report on Wednesday, February 14th. Finally, Stifel Nicolaus upped their price target on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $368.76.

Home Depot Stock Performance

Home Depot stock traded down $2.29 during mid-day trading on Thursday, reaching $383.60. 4,041,839 shares of the company were exchanged, compared to its average volume of 3,149,935. 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 PE ratio of 25.42, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99. The firm’s 50-day simple moving average is $368.47 and its two-hundred day simple moving average is $334.54. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.30 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.39 earnings per share for the current fiscal year.

Home Depot Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred 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 owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following 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 filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by 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.