Jackson Square Capital LLC Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Jackson Square Capital LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 11.9% during the first quarter, HoldingsChannel reports. The firm owned 2,439 shares of the home improvement retailer’s stock after selling 328 shares during the period. Jackson Square Capital LLC’s holdings in Home Depot were worth $894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Group Ltd. raised its stake in shares of Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after acquiring an additional 27 shares in the last quarter. Tallon Kerry Patrick bought a new position in shares of Home Depot in the fourth quarter worth approximately $281,000. Capital & Planning LLC grew its holdings in shares of Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 563 shares during the last quarter. Ironwood Wealth Management LLC. grew its holdings in shares of Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock worth $1,765,000 after purchasing an additional 32 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Royal Bank of Canada cut their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Guggenheim restated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Wells Fargo & Company cut 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Stock Down 2.5%

NYSE:HD opened at $354.10 on Friday. The firm has a market cap of $352.31 billion, a P/E ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. 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 Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm has a 50-day simple moving average of $362.73 and a two-hundred day simple moving average of $382.81.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot’s dividend payout ratio is presently 62.42%.

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.