CGN Advisors LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

CGN Advisors LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 28.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,359 shares of the home improvement retailer’s stock after purchasing an additional 2,278 shares during the quarter. CGN Advisors LLC’s holdings in Home Depot were worth $3,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HD. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter worth about $5,032,910,000. GAMMA Investing LLC grew its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC increased its holdings in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Mizuho lowered their target price on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Gordon Haskett increased their target price on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Finally, Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Stock Down 0.1%

Shares of Home Depot stock opened at $367.86 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 1-year low of $323.93 and a 1-year high of $439.37. The business’s fifty day moving average price is $361.04 and its two-hundred day moving average price is $385.45. The company has a market capitalization of $365.99 billion, a P/E ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.63 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Company 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.