Tower View Wealth Management LLC Sells 142 Shares of The Home Depot, Inc. (NYSE:HD)

Tower View Wealth Management LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% during the first quarter, Holdings Channel reports. The institutional investor owned 15,525 shares of the home improvement retailer’s stock after selling 142 shares during the quarter. Home Depot comprises about 3.3% of Tower View Wealth Management LLC’s investment portfolio, making the stock its 10th biggest position. Tower View Wealth Management LLC’s holdings in Home Depot were worth $5,690,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after buying an additional 875,836 shares during the last quarter. Geode Capital Management LLC raised its holdings in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank bought a new stake in Home Depot during the 4th quarter worth about $5,032,910,000. Capital Research Global Investors raised its holdings in Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Trading Up 0.9%

NYSE HD opened at $350.21 on Friday. The company has a market cap of $348.44 billion, a PE ratio of 23.76, a PEG ratio of 3.30 and a beta of 1.02. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a 50 day moving average of $362.65 and a 200-day moving average of $380.08.

Home Depot (NYSE:HD) last released 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). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.63 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HD. Wedbush reissued an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Evercore ISI set a $400.00 price objective on Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Jefferies Financial Group decreased their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. boosted their target price on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

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.