Gateway Investment Advisers LLC Sells 1,587 Shares of The Home Depot, Inc. (NYSE:HD)


Share on StockTwits

Gateway Investment Advisers LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.4% during the first quarter, Holdings Channel.com reports. The firm owned 388,618 shares of the home improvement retailer’s stock after selling 1,587 shares during the period. The Home Depot accounts for about 1.3% of Gateway Investment Advisers LLC’s portfolio, making the stock its 12th biggest position. Gateway Investment Advisers LLC’s holdings in The Home Depot were worth $118,626,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of The Home Depot by 1.8% during the 4th quarter. FMR LLC now owns 21,267,809 shares of the home improvement retailer’s stock worth $5,649,155,000 after purchasing an additional 372,183 shares in the last quarter. Norges Bank bought a new position in shares of The Home Depot during the 4th quarter worth about $3,153,816,000. Morgan Stanley boosted its position in shares of The Home Depot by 10.6% during the 4th quarter. Morgan Stanley now owns 11,028,573 shares of the home improvement retailer’s stock worth $2,929,410,000 after purchasing an additional 1,058,223 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of The Home Depot by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 10,917,691 shares of the home improvement retailer’s stock worth $2,899,957,000 after purchasing an additional 293,800 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in The Home Depot by 11.8% in the 4th quarter. Alliancebernstein L.P. now owns 9,402,719 shares of the home improvement retailer’s stock valued at $2,497,550,000 after acquiring an additional 991,241 shares in the last quarter. 68.71% of the stock is currently owned by institutional investors.

Several equities analysts recently weighed in on HD shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of The Home Depot in a research report on Monday, March 15th. They issued a “buy” rating and a $288.00 price target on the stock. Wells Fargo & Company raised their price target on shares of The Home Depot from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, March 29th. They noted that the move was a valuation call. Zelman & Associates cut shares of The Home Depot from a “buy” rating to a “hold” rating in a research report on Thursday. Guggenheim raised shares of The Home Depot from a “neutral” rating to a “buy” rating and set a $310.00 price target on the stock in a research report on Wednesday, January 13th. Finally, Loop Capital lifted their target price on shares of The Home Depot from $310.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, April 12th. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $303.80.

The Home Depot stock opened at $328.08 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.36 and a debt-to-equity ratio of 21.39. The company has a market capitalization of $352.76 billion, a PE ratio of 28.38, a P/E/G ratio of 2.13 and a beta of 1.03. The firm has a fifty day simple moving average of $288.24 and a two-hundred day simple moving average of $278.18. The Home Depot, Inc. has a twelve month low of $196.82 and a twelve month high of $323.40.

The Home Depot (NYSE:HD) last posted its quarterly earnings results on Monday, February 22nd. The home improvement retailer reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. The business had revenue of $32.26 billion during the quarter, compared to the consensus estimate of $27.10 billion. The Home Depot had a net margin of 9.94% and a negative return on equity of 910.85%. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.28 earnings per share. As a group, equities analysts expect that The Home Depot, Inc. will post 11.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, March 11th were paid a $1.65 dividend. The ex-dividend date of this dividend was Wednesday, March 10th. This is an increase from The Home Depot’s previous quarterly dividend of $1.50. This represents a $6.60 annualized dividend and a yield of 2.01%. The Home Depot’s payout ratio is currently 64.39%.

The Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Featured Article: What is diluted earnings per share (Diluted EPS)?

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD).

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

Receive News & Ratings for The Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.