Alta Capital Management LLC reduced its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 145,818 shares of the home improvement retailer’s stock after selling 8,633 shares during the quarter. Home Depot accounts for approximately 3.2% of Alta Capital Management LLC’s portfolio, making the stock its 10th largest holding. Alta Capital Management LLC’s holdings in Home Depot were worth $43,034,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the stock. Fairfield Bush & CO. bought a new position in shares of Home Depot during the 1st quarter valued at approximately $27,000. Align Wealth Management LLC bought a new position in Home Depot during the fourth quarter valued at $30,000. Glassy Mountain Advisors Inc. purchased a new stake in Home Depot in the fourth quarter worth $30,000. Studio Investment Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at $32,000. Finally, EWG Elevate Inc. purchased a new position in shares of Home Depot during the 4th quarter valued at $36,000. Institutional investors own 69.91% of the company’s stock.
Insider Buying and Selling
In related news, EVP Hector A. Padilla sold 1,502 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total value of $440,221.18. Following the completion of the sale, the executive vice president now owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. 0.19% of the stock is owned by insiders.
Home Depot Price Performance
HD opened at $302.81 on Monday. The company has a debt-to-equity ratio of 113.02, a current ratio of 1.27 and a quick ratio of 0.28. The stock’s 50 day simple moving average is $296.89 and its 200 day simple moving average is $302.34. The firm has a market cap of $304.44 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.97 and a beta of 0.94. The Home Depot, Inc. has a 1 year low of $265.61 and a 1 year high of $347.25.
Home Depot (NYSE:HD – Free Report) last issued its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.02. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The firm had revenue of $37.26 billion for the quarter, compared to analysts’ expectations of $38.35 billion. During the same quarter last year, the business earned $4.09 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. As a group, analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current year.
Home Depot Announces Dividends
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were issued a dividend of $2.09 per share. The ex-dividend date was Wednesday, May 31st. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.76%. Home Depot’s dividend payout ratio is currently 50.94%.
Wall Street Analysts Forecast Growth
Several research firms have commented on HD. Credit Suisse Group dropped their price objective on shares of Home Depot from $320.00 to $310.00 in a report on Wednesday, May 17th. Citigroup cut their price objective on shares of Home Depot from $332.00 to $327.00 in a report on Wednesday, May 10th. Guggenheim lowered their target price on shares of Home Depot from $335.00 to $320.00 in a report on Wednesday, May 17th. The Street lowered Home Depot from a “b” rating to a “c+” rating in a report on Tuesday, May 16th. Finally, the Telsey Advisory Group decreased their price objective on Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 17th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.43.
Home Depot Company Profile
(Free Report)
The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities for maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, baths, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.
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