The Home Depot, Inc. (NYSE:HD) Stake Lifted by Morey & Quinn Wealth Partners LLC

Morey & Quinn Wealth Partners LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,654 shares of the home improvement retailer’s stock after buying an additional 38 shares during the quarter. Home Depot comprises approximately 0.8% of Morey & Quinn Wealth Partners LLC’s holdings, making the stock its 28th largest position. Morey & Quinn Wealth Partners LLC’s holdings in Home Depot were worth $973,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Navigoe LLC bought a new position in shares of Home Depot in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter worth $32,000. Quarry LP grew its stake in shares of Home Depot by 220.0% in 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 in the last quarter. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the fourth quarter worth $39,000. Finally, NewSquare Capital LLC grew its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Activity

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% 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 company insiders.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent analyst reports. Royal Bank of Canada decreased their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Jefferies Financial Group decreased their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Mizuho decreased their price target 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. Gordon Haskett increased their price target on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Trading Down 2.5%

Shares of NYSE HD opened at $354.10 on Friday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market cap of $352.31 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business has a fifty day simple moving average of $362.73 and a 200-day simple moving average of $382.50.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $39.24 billion. During the same period in the prior year, the company earned $3.63 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio is 62.42%.

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.