Bruce G. Allen Investments LLC Decreases Position in The Home Depot, Inc. (NYSE:HD)

Bruce G. Allen Investments LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,187 shares of the home improvement retailer’s stock after selling 80 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Home Depot were worth $435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of HD. Norges Bank purchased a new stake in Home Depot during the 4th quarter worth about $5,032,910,000. GAMMA Investing LLC grew its position in shares of Home Depot by 39,194.1% during the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after buying an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC raised its holdings in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’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 value of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.5%

Home Depot stock opened at $367.45 on Monday. The stock has a 50 day moving average of $361.63 and a two-hundred day moving average of $384.44. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The stock has a market capitalization of $365.59 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share 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 company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the business earned $3.63 earnings per share. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HD shares. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Mizuho dropped their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and raised their price target for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $426.77.

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.