HCR Wealth Advisors Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

HCR Wealth Advisors lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,909 shares of the home improvement retailer’s stock after selling 210 shares during the quarter. HCR Wealth Advisors’ holdings in Home Depot were worth $3,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in HD. Navigoe LLC purchased a new position in Home Depot in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth $32,000. Quarry LP increased its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at about $39,000. Finally, NewSquare Capital LLC lifted its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HD. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Royal Bank Of Canada reduced their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Finally, Robert W. Baird cut their price target on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Price Performance

HD opened at $346.41 on Thursday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company’s 50 day simple moving average is $362.86 and its 200 day simple moving average is $381.18. The stock has a market capitalization of $344.65 billion, a PE ratio of 23.50, a P/E/G ratio of 3.32 and a beta of 1.02. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the business earned $3.63 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were 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 of the company’s stock, 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 is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $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.

About Home Depot

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.