Abacus FCF Advisors LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Abacus FCF Advisors LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 36.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,173 shares of the home improvement retailer’s stock after selling 17,869 shares during the quarter. Home Depot makes up approximately 1.8% of Abacus FCF Advisors LLC’s holdings, making the stock its 24th biggest position. Abacus FCF Advisors LLC’s holdings in Home Depot were worth $11,425,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Home Depot during the 4th quarter valued at approximately $5,032,910,000. GAMMA Investing LLC grew its stake in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Raymond James Financial Inc. bought a new position in shares of Home Depot during the 4th quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC grew its stake in shares of Home Depot by 21,394.9% during the 4th 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 during the period. Finally, Northern Trust Corp grew its stake in shares of 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 valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.6%

Shares of HD opened at $365.20 on Tuesday. The stock has a market capitalization of $363.35 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The business’s 50 day simple moving average is $361.51 and its 200-day simple moving average is $384.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $39.24 billion. During the same period last year, the company earned $3.63 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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 of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.52%. Home Depot’s payout ratio is presently 62.42%.

Insider Activity at Home Depot

In other Home Depot news, 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the sale, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on HD shares. Mizuho cut their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. DA Davidson cut their price objective on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Gordon Haskett boosted their price objective on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. upped their price target on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Seven 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 stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target 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.