Graypoint LLC Trims Position in The Home Depot, Inc. (NYSE:HD)

Graypoint LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,629 shares of the home improvement retailer’s stock after selling 316 shares during the quarter. Graypoint LLC’s holdings in Home Depot were worth $4,628,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HD. Asset Planning Services Inc. LA ADV grew its position in shares of Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter worth about $5,032,910,000. GAMMA Investing LLC grew its position in shares of Home Depot by 39,194.1% during 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. Northern Trust Corp grew its position in shares of 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 worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter worth about $471,189,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.4%

HD opened at $357.22 on Thursday. The stock’s fifty day moving average is $366.20 and its two-hundred day moving average is $374.90. The company has a market capitalization of $355.40 billion, a P/E ratio of 24.23, a PEG ratio of 3.41 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.63 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.58%. Home Depot’s dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. DA Davidson cut their target price on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Mizuho cut their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price target on Home Depot and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Finally, Jefferies Financial Group dropped their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on 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 directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 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 disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Home Depot 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.