Meyer Handelman Co. Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Meyer Handelman Co. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,358 shares of the home improvement retailer’s stock after selling 5,189 shares during the period. Home Depot accounts for 1.6% of Meyer Handelman Co.’s portfolio, making the stock its 15th biggest holding. Meyer Handelman Co.’s holdings in Home Depot were worth $45,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter worth approximately $28,000. Navigoe LLC bought a new position in Home Depot in the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the 4th quarter worth approximately $32,000. Finally, Quarry LP boosted its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE:HD opened at $367.85 on Friday. The stock’s fifty day moving average is $360.92 and its 200 day moving average is $386.04. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The firm has a market capitalization of $365.65 billion, a PE ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released 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 net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the company posted $3.63 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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

Insider Activity at Home Depot

In other Home Depot 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 $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was 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. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HD has been the subject of several recent analyst reports. Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Robert W. Baird dropped their price target on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. DA Davidson dropped their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada lowered their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot 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.