IMS Capital Management Has $3.58 Million Stake in The Home Depot, Inc. (NYSE:HD)

IMS Capital Management boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,326 shares of the home improvement retailer’s stock after purchasing an additional 99 shares during the quarter. Home Depot comprises approximately 1.7% of IMS Capital Management’s holdings, making the stock its 11th largest position. IMS Capital Management’s holdings in Home Depot were worth $3,577,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bare Financial Services Inc bought a new position in shares of Home Depot during the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $27,000. Keener Financial Planning LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $31,000. Gilfoyle & Co LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $35,000. Finally, A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot during the 1st quarter worth approximately $38,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock traded down $3.15 on Friday, hitting $355.43. The stock had a trading volume of 3,764,790 shares, compared to its average volume of 3,182,945. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The stock has a market cap of $352.45 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The business’s 50 day moving average is $346.18 and its two-hundred day moving average is $353.46. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) 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 business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the previous year, the company posted $3.82 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared 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. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.53%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were 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 directly owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent analyst reports. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. DA Davidson raised Home Depot from a “neutral” rating to a “buy” rating and raised their price target for the company from $352.00 to $395.00 in a report on Wednesday, June 26th. Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Citigroup lowered their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Finally, Guggenheim reissued a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $381.40.

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.