Prospect Financial Services LLC Acquires 48 Shares of The Home Depot, Inc. (NYSE:HD)

Prospect Financial Services LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 662 shares of the home improvement retailer’s stock after acquiring an additional 48 shares during the quarter. Prospect Financial Services LLC’s holdings in Home Depot were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Wealth Group Ltd. grew its stake in shares of Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after acquiring an additional 27 shares during the period. Tallon Kerry Patrick purchased a new position in shares of Home Depot in the fourth quarter worth about $281,000. Capital & Planning LLC raised its position in shares of Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 563 shares during the period. Ironwood Wealth Management LLC. lifted its stake in shares of Home Depot by 0.7% during the 4th quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after buying an additional 32 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

HD opened at $368.97 on Friday. 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 stock’s 50 day simple moving average is $361.58 and its 200 day simple moving average is $384.99. The firm has a market cap of $367.10 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1 year low of $323.93 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last issued its earnings results 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). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same period in the previous year, the firm earned $3.63 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.49%. Home Depot’s dividend payout ratio is presently 62.42%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HD shares. Wells Fargo & Company reduced their target price on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Telsey Advisory Group reaffirmed an “outperform” rating on shares of Home Depot in a research note on Monday. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. TD Securities downgraded Home Depot to a “buy” rating in a research report on Monday. Finally, 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. Seven equities research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred 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 now owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

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.