Crestwood Advisors Group LLC Decreases Stock Position in The Home Depot, Inc. $HD

Crestwood Advisors Group LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 181,670 shares of the home improvement retailer’s stock after selling 4,602 shares during the quarter. Home Depot comprises approximately 1.3% of Crestwood Advisors Group LLC’s holdings, making the stock its 18th largest holding. Crestwood Advisors Group LLC’s holdings in Home Depot were worth $73,611,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HD. Vanguard Group Inc. boosted its stake in shares of Home Depot by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 98,310,031 shares of the home improvement retailer’s stock worth $39,834,241,000 after purchasing an additional 331,217 shares during the period. State Street Corp lifted its stake in Home Depot by 0.7% in the second quarter. State Street Corp now owns 46,015,836 shares of the home improvement retailer’s stock worth $16,871,246,000 after purchasing an additional 300,352 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Home Depot by 1.4% during the second quarter. Geode Capital Management LLC now owns 22,978,809 shares of the home improvement retailer’s stock valued at $8,394,611,000 after buying an additional 327,674 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Home Depot by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 14,568,860 shares of the home improvement retailer’s stock valued at $5,341,724,000 after buying an additional 153,582 shares during the period. Finally, Norges Bank bought a new position in shares of Home Depot during the second quarter valued at approximately $4,885,603,000. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 145 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $358.26, for a total value of $51,947.70. Following the completion of the transaction, the executive vice president directly owned 12,320 shares in the company, valued at approximately $4,413,763.20. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Angie Brown sold 1,946 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $357.63, for a total transaction of $695,947.98. Following the sale, the executive vice president directly owned 3,941 shares of the company’s stock, valued at approximately $1,409,419.83. The trade was a 33.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,963 shares of company stock valued at $1,748,845. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Up 0.2%

Shares of Home Depot stock opened at $391.03 on Tuesday. The company has a debt-to-equity ratio of 3.82, a current ratio of 1.05 and a quick ratio of 0.29. The stock has a market cap of $389.27 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 13.97 and a beta of 1.08. The firm’s 50-day moving average is $366.99 and its two-hundred day moving average is $380.21. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $426.75.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 18th. The home improvement retailer reported $3.74 EPS for the quarter, missing the consensus estimate of $3.83 by ($0.09). Home Depot had a net margin of 8.77% and a return on equity of 160.74%. The business had revenue of $41.35 billion during the quarter, compared to the consensus estimate of $41.06 billion. During the same quarter in the prior year, the firm posted $3.78 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, December 4th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot’s dividend payout ratio is currently 62.71%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Oppenheimer decreased their price target on Home Depot from $420.00 to $405.00 and set a “market perform” rating for the company in a research note on Friday, December 5th. Zacks Research upgraded Home Depot from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Truist Financial set a $405.00 target price on shares of Home Depot in a research note on Friday, January 16th. Citigroup lifted their price objective on shares of Home Depot from $407.00 to $450.00 and gave the company a “buy” rating in a report on Thursday. Finally, TD Cowen boosted their price objective on shares of Home Depot from $410.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Twenty-one investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $407.23.

About Home Depot

The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.