Eagle Ridge Investment Management Sells 360 Shares of The Home Depot, Inc. (NYSE:HD)

Eagle Ridge Investment Management lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,785 shares of the home improvement retailer’s stock after selling 360 shares during the period. Home Depot makes up approximately 1.6% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 21st largest position. Eagle Ridge Investment Management’s holdings in Home Depot were worth $17,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in HD. Bare Financial Services Inc bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $27,000. 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 boosted 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 valued at $32,000 after buying an additional 32 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in shares of Home Depot in the fourth quarter valued at approximately $35,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $334.97 on Wednesday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The stock has a market cap of $332.16 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 2.38 and a beta of 0.99. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The firm’s 50-day simple moving average is $338.51 and its 200 day simple moving average is $352.69.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter last year, the firm earned $3.82 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.69%. Home Depot’s dividend payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. HSBC lowered their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. Evercore ISI boosted their price objective on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Truist Financial lowered their price objective on shares of Home Depot from $417.00 to $406.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, 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. One equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Insiders Place Their Bets

In other Home Depot 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 transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.