The Home Depot, Inc. (NYSE:HD) Shares Purchased by Tuttle Capital Management LLC

Tuttle Capital Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 38.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,377 shares of the home improvement retailer’s stock after acquiring an additional 384 shares during the period. Home Depot accounts for approximately 2.4% of Tuttle Capital Management LLC’s holdings, making the stock its 18th biggest position. Tuttle Capital Management LLC’s holdings in Home Depot were worth $505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wealth Group Ltd. grew its position in Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after purchasing an additional 27 shares in the last quarter. Tallon Kerry Patrick acquired a new stake in shares of Home Depot in the fourth quarter worth $281,000. Capital & Planning LLC boosted its position 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 buying an additional 563 shares during the period. Ironwood Wealth Management LLC. grew its holdings in shares of Home Depot by 0.7% during the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after buying an additional 32 shares in the last quarter. Finally, Brighton Jones LLC raised its position in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. 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. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Robert W. Baird cut their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,996,327.68. Following the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents 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 corporate insiders.

Home Depot Price Performance

NYSE:HD opened at $354.10 on Friday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market cap of $352.31 billion, a P/E ratio of 24.06, a PEG ratio of 4.03 and a beta of 1.02. The company has a fifty day moving average price of $362.73 and a 200 day moving average price of $382.50. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business earned $3.63 earnings per share. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

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 $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is 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.