Confluence Investment Management LLC Sells 6,563 Shares of The Home Depot, Inc. (NYSE:HD)

Confluence Investment Management LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 363,615 shares of the home improvement retailer’s stock after selling 6,563 shares during the quarter. Home Depot comprises 2.0% of Confluence Investment Management LLC’s holdings, making the stock its 9th biggest position. Confluence Investment Management LLC’s holdings in Home Depot were worth $141,443,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Fairway Wealth LLC bought a new stake in shares of Home Depot during the second quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the 3rd quarter worth $41,000. Livelsberger Financial Advisory bought a new position in Home Depot during the 3rd quarter worth about $46,000. Denver PWM LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at about $40,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot in the second quarter valued at about $47,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of NYSE HD traded up $0.18 during mid-day trading on Thursday, reaching $389.17. 502,617 shares of the company were exchanged, compared to its average volume of 3,126,833. The stock has a market capitalization of $386.59 billion, a P/E ratio of 26.44, a P/E/G ratio of 2.90 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company’s 50-day simple moving average is $407.42 and its 200-day simple moving average is $383.85. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

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

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value 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 trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HD shares. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley lifted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. Barclays lifted their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Mizuho increased their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.