Atlantic Union Bankshares Corp Trims Stake in The Home Depot, Inc. (NYSE:HD)

Atlantic Union Bankshares Corp reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,655 shares of the home improvement retailer’s stock after selling 643 shares during the period. Atlantic Union Bankshares Corp’s holdings in Home Depot were worth $7,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new stake in shares of Home Depot in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot in the fourth quarter worth $27,000. Keener Financial Planning LLC purchased a new stake in shares of Home Depot in the fourth quarter worth $31,000. PFG Private Wealth Management LLC increased its stake in shares of Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in shares of Home Depot in the fourth quarter worth $35,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. Truist Financial cut their target price on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and increased their price objective for the company from $352.00 to $395.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $378.42.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Home Depot Stock Up 0.8 %

NYSE HD traded up $2.85 during trading on Friday, reaching $344.34. 6,343,987 shares of the company’s stock traded hands, compared to its average volume of 3,465,830. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The firm has a market cap of $341.45 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The company’s 50 day simple moving average is $338.51 and its two-hundred day simple moving average is $352.60. 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 posted its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.82 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is currently 60.36%.

Home Depot Company 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.