Fairbanks Capital Management Inc. Sells 1,668 Shares of The Home Depot, Inc. (NYSE:HD)

Fairbanks Capital Management Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 42.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,224 shares of the home improvement retailer’s stock after selling 1,668 shares during the quarter. Fairbanks Capital Management Inc.’s holdings in Home Depot were worth $853,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cape Investment Advisory Inc. boosted its holdings in Home Depot by 1.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 28 shares during the last quarter. Optas LLC boosted its holdings in Home Depot by 1.7% during the 4th quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after acquiring an additional 29 shares during the last quarter. STAR Financial Bank boosted its holdings in Home Depot by 0.7% during the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after acquiring an additional 29 shares during the last quarter. Talisman Wealth Advisors LLC boosted its holdings in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after acquiring an additional 29 shares during the last quarter. Finally, Private Ocean LLC boosted its holdings in Home Depot by 2.6% during the 4th quarter. Private Ocean LLC now owns 1,173 shares of the home improvement retailer’s stock worth $407,000 after acquiring an additional 30 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

Shares of HD traded up $1.91 during midday trading on Tuesday, hitting $363.58. 2,788,180 shares of the company traded hands, compared to its average volume of 3,404,348. The stock has a 50-day moving average of $344.19 and a 200-day moving average of $353.36. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm has a market cap of $360.53 billion, a P/E ratio of 24.38, a PEG ratio of 2.48 and a beta of 0.99. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the prior year, the business posted $3.82 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.3 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group cut their price objective on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Jefferies Financial Group started coverage on Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. Evercore ISI lifted their target price on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Finally, StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $381.80.

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.