PSI Advisors LLC Has $662,000 Stake in The Home Depot, Inc. (NYSE:HD)

PSI Advisors LLC trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 18.7% during the first quarter, HoldingsChannel reports. The fund owned 1,807 shares of the home improvement retailer’s stock after selling 416 shares during the period. PSI Advisors LLC’s holdings in Home Depot were worth $662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC grew its position in shares of Home Depot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after acquiring an additional 257,036 shares during the period. Norges Bank bought a new position in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. Capital Research Global Investors grew its stake in Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Home Depot by 13.3% in 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 buying an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business’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 directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $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.

Home Depot Price Performance

Shares of NYSE:HD opened at $348.74 on Wednesday. The company has a 50 day moving average of $363.01 and a 200 day moving average of $381.43. The stock has a market cap of $346.97 billion, a P/E ratio of 23.66, a P/E/G ratio of 3.36 and a beta of 1.02. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 8.98% and a return on equity of 242.51%. The firm 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 firm posted $3.63 EPS. Home Depot’s revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given 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 2.64%. Home Depot’s payout ratio is presently 62.42%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. TD Securities lowered shares of Home Depot to a “buy” rating in a research note on Monday, June 2nd. Royal Bank Of Canada cut their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Finally, HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

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.