Koshinski Asset Management Inc. Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Koshinski Asset Management Inc. reduced its position in The Home Depot, Inc. (NYSE:HD) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,942 shares of the home improvement retailer’s stock after selling 1,270 shares during the period. Koshinski Asset Management Inc.’s holdings in Home Depot were worth $2,406,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HD. Fairfield Bush & CO. purchased a new stake in Home Depot during the first quarter valued at approximately $27,000. KB Financial Partners LLC purchased a new stake in Home Depot during the first quarter valued at approximately $28,000. Keener Financial Planning LLC purchased a new stake in Home Depot during the fourth quarter valued at approximately $31,000. PFG Private Wealth Management LLC raised its position in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Studio Investment Management LLC purchased a new stake in Home Depot during the fourth quarter valued at approximately $32,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and upped their target price for the company from $311.00 to $400.00 in a research note on Tuesday, January 16th. Robert W. Baird reaffirmed an “outperform” rating and set a $370.00 target price on shares of Home Depot in a research note on Wednesday, February 14th. Finally, StockNews.com raised Home Depot from a “hold” rating to a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $376.35.

Home Depot Stock Down 1.3 %

Home Depot stock opened at $342.87 on Monday. The business has a fifty day moving average of $369.91 and a two-hundred day moving average of $338.58. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The firm has a market cap of $339.79 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 0.98. 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 issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The firm had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the prior year, the business posted $3.30 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.62%. 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. Home Depot’s dividend payout ratio is currently 59.60%.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Company 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.