BCS Wealth Management Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

BCS Wealth Management decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 18.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,619 shares of the home improvement retailer’s stock after selling 364 shares during the period. BCS Wealth Management’s holdings in Home Depot were worth $593,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Norges Bank bought a new position in Home Depot in the 4th quarter valued at $5,032,910,000. GAMMA Investing LLC boosted its holdings in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares during the period. Raymond James Financial Inc. bought a new position in Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC boosted its holdings in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the period. Finally, Northern Trust Corp boosted its holdings in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Wedbush reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. 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 report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Insider Buying and Selling

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

Shares of NYSE HD opened at $367.45 on Friday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company’s 50-day moving average is $361.63 and its 200 day moving average is $384.62. The stock has a market capitalization of $365.59 billion, a P/E ratio of 24.96, a P/E/G ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the previous year, the firm earned $3.63 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

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.