Home Depot logoSomerset Trust Co decreased its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,044 shares of the home improvement retailer’s stock after selling 729 shares during the period. Somerset Trust Co’s holdings in Home Depot were worth $2,669,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Howard Financial Services LTD. increased its stake in Home Depot by 7.2% in the first quarter. Howard Financial Services LTD. now owns 727 shares of the home improvement retailer’s stock valued at $215,000 after purchasing an additional 49 shares during the period. Platform Technology Partners increased its position in Home Depot by 4.1% in the 1st quarter. Platform Technology Partners now owns 5,749 shares of the home improvement retailer’s stock valued at $1,697,000 after acquiring an additional 228 shares during the period. CGN Advisors LLC raised its stake in Home Depot by 8.4% during the 1st quarter. CGN Advisors LLC now owns 7,825 shares of the home improvement retailer’s stock valued at $2,309,000 after acquiring an additional 609 shares during the last quarter. Trust Co. of Toledo NA OH lifted its position in Home Depot by 11.7% during the 1st quarter. Trust Co. of Toledo NA OH now owns 14,083 shares of the home improvement retailer’s stock worth $4,156,000 after acquiring an additional 1,475 shares during the period. Finally, Modus Advisors LLC grew its stake in shares of Home Depot by 1.6% in the 1st quarter. Modus Advisors LLC now owns 7,747 shares of the home improvement retailer’s stock valued at $2,286,000 after purchasing an additional 121 shares during the last quarter. 68.31% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of NYSE HD opened at $300.38 on Monday. The company has a 50-day simple moving average of $293.75 and a 200-day simple moving average of $304.22. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.28. The company has a market cap of $302.00 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $347.25.

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Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. The firm had revenue of $37.26 billion for the quarter, compared to analyst estimates of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. Home Depot’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $4.09 earnings per share. On average, equity analysts anticipate that The Home Depot, Inc. will post 14.97 earnings per share for the current year.

Home Depot Announces Dividends

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a dividend of $2.09 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents an $8.36 annualized dividend and a yield of 2.78%. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.

Insiders Place Their Bets

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total transaction of $440,221.18. Following the completion of the transaction, the executive vice president now owns 13,958 shares of the company’s stock, valued at approximately $4,090,950.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Barclays decreased their price target on Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. Jefferies Financial Group lifted their target price on shares of Home Depot from $337.00 to $349.00 in a report on Wednesday, June 14th. Morgan Stanley cut their price target on shares of Home Depot from $340.00 to $320.00 in a report on Wednesday, May 17th. StockNews.com started coverage on Home Depot in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Loop Capital increased their target price on Home Depot from $280.00 to $300.00 in a research note on Wednesday, June 14th. Thirteen equity research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.43.

Home Depot Company Profile

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The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities for maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, baths, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

See Also

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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