Investment Advisory Group LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Investment Advisory Group LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 724 shares of the home improvement retailer’s stock after buying an additional 29 shares during the period. Investment Advisory Group LLC’s holdings in Home Depot were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HD. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the fourth quarter worth $28,000. Navigoe LLC acquired a new position in shares of Home Depot during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth $32,000. Quarry LP increased its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Finally, Marshall Investment Management LLC purchased a new stake in Home Depot during the fourth quarter worth about $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $367.45 on Monday. 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 quick ratio of 0.31 and a current ratio of 1.13. The firm has a 50 day moving average price of $361.63 and a 200 day moving average price of $384.44. The company has a market cap of $365.59 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last issued its 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 firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same period last year, the business posted $3.63 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

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 issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several research analyst reports. DA Davidson decreased their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Mizuho dropped their price target on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. TD Securities lowered shares of Home Depot to a “buy” rating in a research report on Monday, June 2nd. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 target price (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Finally, Wells Fargo & Company reduced their price target on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Seven investment 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’s stock. According to data from MarketBeat.com, the stock presently 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.