Slocum Gordon & Co LLP Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

Slocum Gordon & Co LLP cut its holdings in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,836 shares of the home improvement retailer’s stock after selling 47 shares during the quarter. Slocum Gordon & Co LLP’s holdings in Home Depot were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Wealth Group Ltd. boosted its holdings in Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after acquiring an additional 27 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in 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 valued at $1,765,000 after acquiring an additional 32 shares during the last quarter. Brighton Jones LLC boosted its holdings in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Snider Financial Group boosted its holdings in Home Depot by 90.7% in the fourth quarter. Snider Financial Group now owns 1,436 shares of the home improvement retailer’s stock valued at $559,000 after acquiring an additional 683 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its holdings in Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock valued at $4,747,000 after acquiring an additional 565 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.0%

NYSE:HD opened at $360.53 on Wednesday. The company has a market capitalization of $358.70 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 3.39 and a beta of 1.02. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The stock has a 50-day simple moving average of $362.79 and a 200 day simple moving average of $378.77. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD – Get Free Report) last posted 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). The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.63 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.55%. Home Depot’s dividend payout ratio (DPR) is 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was 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 brokerages recently weighed in on HD. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Robert W. Baird cut their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Check Out Our Latest Stock Analysis on Home Depot

Home Depot Profile

(Free Report)

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.

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