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

TCI Wealth Advisors Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 1.1% during the 1st quarter, HoldingsChannel reports. The firm owned 6,499 shares of the home improvement retailer’s stock after selling 73 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Home Depot were worth $2,382,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HD. Navigoe LLC bought a new position in Home Depot during the fourth quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $32,000. Quarry LP raised its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the 4th quarter valued at about $39,000. Finally, NewSquare Capital LLC grew its position in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

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

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) 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 firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued 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 62.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird reduced their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Royal Bank Of Canada dropped their target price 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. boosted their target price on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Telsey Advisory Group restated an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. Finally, Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.