Cornerstone Planning Group LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Cornerstone Planning Group LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 9.5% in the 1st quarter, Holdings Channel reports. The fund owned 1,043 shares of the home improvement retailer’s stock after selling 109 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Home Depot were worth $400,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Washington Trust Advisors Inc. grew its stake in Home Depot by 0.5% during the 1st quarter. Washington Trust Advisors Inc. now owns 7,183 shares of the home improvement retailer’s stock valued at $2,755,000 after acquiring an additional 34 shares in the last quarter. QRG Capital Management Inc. grew its stake in Home Depot by 6.4% during the 1st quarter. QRG Capital Management Inc. now owns 131,243 shares of the home improvement retailer’s stock valued at $50,345,000 after acquiring an additional 7,899 shares in the last quarter. Tranquility Partners LLC boosted its holdings in Home Depot by 2.2% in the 1st quarter. Tranquility Partners LLC now owns 2,203 shares of the home improvement retailer’s stock valued at $845,000 after purchasing an additional 47 shares during the last quarter. Watershed Private Wealth LLC boosted its holdings in Home Depot by 10.8% in the 1st quarter. Watershed Private Wealth LLC now owns 1,296 shares of the home improvement retailer’s stock valued at $497,000 after purchasing an additional 126 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Home Depot by 14.6% in the 1st quarter. Headlands Technologies LLC now owns 3,801 shares of the home improvement retailer’s stock valued at $1,458,000 after purchasing an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Mizuho assumed coverage on shares of Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Wedbush reiterated an “outperform” rating and issued a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. Finally, DA Davidson upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and boosted their target price for the company from $352.00 to $395.00 in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $380.58.

Home Depot Stock Up 3.0 %

Shares of NYSE:HD traded up $10.67 during trading hours on Tuesday, reaching $369.13. The stock had a trading volume of 3,209,259 shares, compared to its average volume of 3,437,104. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The firm’s 50 day moving average is $339.85 and its 200-day moving average is $352.22. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The stock has a market capitalization of $366.03 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 2.48 and a beta of 0.99.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. During the same period in the prior year, the firm posted $3.82 EPS. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

Insider Buying and Selling at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.