DMC Group LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

DMC Group LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,696 shares of the home improvement retailer’s stock after selling 367 shares during the period. Home Depot comprises approximately 1.1% of DMC Group LLC’s investment portfolio, making the stock its 25th largest holding. DMC Group LLC’s holdings in Home Depot were worth $1,272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Monetary Management Group Inc. increased its stake in shares of Home Depot by 0.9% in the 2nd quarter. Monetary Management Group Inc. now owns 25,634 shares of the home improvement retailer’s stock valued at $8,824,000 after purchasing an additional 234 shares in the last quarter. Legacy Trust increased its position in shares of Home Depot by 1.1% in the second quarter. Legacy Trust now owns 8,190 shares of the home improvement retailer’s stock valued at $2,819,000 after buying an additional 87 shares in the last quarter. Falcon Wealth Planning raised its stake in shares of Home Depot by 2.3% during the 2nd quarter. Falcon Wealth Planning now owns 3,221 shares of the home improvement retailer’s stock worth $1,109,000 after buying an additional 73 shares during the period. Mainsail Financial Group LLC lifted its position in shares of Home Depot by 5.0% during the 2nd quarter. Mainsail Financial Group LLC now owns 2,569 shares of the home improvement retailer’s stock valued at $884,000 after buying an additional 123 shares in the last quarter. Finally, Great Valley Advisor Group Inc. lifted its position in shares of Home Depot by 8.4% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 44,049 shares of the home improvement retailer’s stock valued at $15,163,000 after buying an additional 3,428 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on HD shares. TD Cowen reduced their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Tuesday. Citigroup lowered their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and issued a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $384.00.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.

Home Depot Price Performance

Shares of HD traded up $5.59 during mid-day trading on Wednesday, reaching $355.66. The company had a trading volume of 4,618,179 shares, compared to its average volume of 3,432,755. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The company has a market capitalization of $352.68 billion, a P/E ratio of 23.96, a P/E/G ratio of 2.48 and a beta of 0.98. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company’s 50-day moving average is $348.96 and its 200-day moving average is $353.14.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Home Depot Company 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.