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

Rockingstone Advisors LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 42.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,675 shares of the home improvement retailer’s stock after selling 2,000 shares during the period. Rockingstone Advisors LLC’s holdings in Home Depot were worth $980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the fourth quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth approximately $32,000. Quarry LP increased its position in Home Depot by 220.0% during the fourth 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 last quarter. Finally, Sellwood Investment Partners LLC acquired a new position in Home Depot during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling 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 shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $954,564.00. Following the sale, 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. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

Shares of HD stock opened at $368.15 on Wednesday. The company has a market capitalization of $366.28 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The firm has a fifty day simple moving average of $361.75 and a 200-day simple moving average of $383.94. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $39.24 billion. During the same quarter last year, the company earned $3.63 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Analysts Set New Price Targets

HD has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Finally, DA Davidson dropped their price target on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.