Robertson Stephens Wealth Management LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Robertson Stephens Wealth Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,410 shares of the home improvement retailer’s stock after selling 706 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Home Depot were worth $8,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $26,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the 3rd quarter worth about $41,000. Sugar Maple Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 3rd quarter worth about $46,000. Finally, Finley Financial LLC purchased a new position in shares of Home Depot in the 4th quarter worth about $59,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Truist Financial boosted their price objective on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Bank of America boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Mizuho boosted their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Down 1.6 %

HD stock opened at $407.39 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company’s 50 day moving average is $406.58 and its 200 day moving average is $393.70. The stock has a market cap of $404.68 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.81 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

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.