Cypress Asset Management Inc. TX Has $7.08 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Cypress Asset Management Inc. TX lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,082 shares of the home improvement retailer’s stock after selling 449 shares during the quarter. Home Depot accounts for about 1.9% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 14th largest position. Cypress Asset Management Inc. TX’s holdings in Home Depot were worth $7,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Bey Douglas LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $913,000. Hartline Investment Corp grew its holdings in shares of Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock worth $5,397,000 after purchasing an additional 460 shares in the last quarter. Wolf Group Capital Advisors grew its holdings in shares of Home Depot by 6.1% during the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after purchasing an additional 430 shares in the last quarter. Sky Investment Group LLC lifted its position in shares of Home Depot by 0.3% during the 4th quarter. Sky Investment Group LLC now owns 22,176 shares of the home improvement retailer’s stock worth $7,685,000 after buying an additional 58 shares during the period. Finally, Octavia Wealth Advisors LLC lifted its position in shares of Home Depot by 11.5% during the 4th quarter. Octavia Wealth Advisors LLC now owns 2,549 shares of the home improvement retailer’s stock worth $883,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Buying and Selling

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by insiders.

Home Depot Trading Down 0.9 %

Shares of Home Depot stock traded down $3.15 during trading on Friday, reaching $355.43. 3,764,790 shares of the company were exchanged, compared to its average volume of 3,182,945. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The business has a 50-day moving average price of $346.18 and a 200-day moving average price of $353.49. The firm has a market capitalization of $352.45 billion, a price-to-earnings ratio of 23.84, a P/E/G ratio of 2.48 and a beta of 0.98.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Truist Financial cut their target price on Home Depot from $406.00 to $396.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. UBS Group cut their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and raised their target price for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. Finally, HSBC cut their target price on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $381.40.

About Home Depot

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.