Alley Investment Management Company LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Alley Investment Management Company LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,903 shares of the home improvement retailer’s stock after purchasing an additional 264 shares during the quarter. Home Depot comprises approximately 2.5% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 13th biggest position. Alley Investment Management Company LLC’s holdings in Home Depot were worth $19,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC boosted its stake in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the period. Asset Planning Services Inc. LA ADV grew its holdings in shares of Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth approximately $5,032,910,000. Finally, Capital Research Global Investors lifted its holdings in Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after buying an additional 647,552 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD traded down $2.33 during trading on Wednesday, hitting $370.83. 320,982 shares of the stock were exchanged, compared to its average volume of 3,422,762. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock has a fifty day moving average price of $364.33 and a two-hundred day moving average price of $376.90. The firm has a market capitalization of $368.95 billion, a P/E ratio of 25.18, a PEG ratio of 3.49 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its 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). The business 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 business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.63 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid 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 yield of 2.48%. Home Depot’s dividend payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

Several research firms have commented on HD. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Jefferies Financial Group lowered their target price on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. TD Securities cut Home Depot to a “buy” rating in a research note on Monday, June 2nd. JPMorgan Chase & Co. boosted their price objective on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird reduced their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a report 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 issued 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 target price of $426.77.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s 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 transaction, the executive vice president directly owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares of the company’s stock, 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.

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.