The Home Depot, Inc. (NYSE:HD) Shares Acquired by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. increased its holdings in The Home Depot, Inc. (NYSE:HD) by 8.0% during the 1st quarter, HoldingsChannel reports. The fund owned 5,632 shares of the home improvement retailer’s stock after acquiring an additional 419 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Home Depot were worth $2,064,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HD. K.J. Harrison & Partners Inc grew its holdings in shares of Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Wealth Management Partners LLC boosted its position in shares of Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock worth $2,384,000 after buying an additional 36 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in shares of Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after buying an additional 3,873 shares during the period. Disciplined Investors L.L.C. acquired a new position in shares of Home Depot during the fourth quarter worth approximately $409,000. Finally, ARS Wealth Advisors Group LLC boosted its position in shares of Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock worth $11,628,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $348.74 on Wednesday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm 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 firm has a 50 day simple moving average of $363.01 and a 200 day simple moving average of $381.43. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly 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). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the business earned $3.63 EPS. The business’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 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm 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 $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.64%. Home Depot’s payout ratio is presently 62.42%.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HD. Morgan Stanley restated an “overweight” rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Robert W. Baird cut their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada cut their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Seven 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.