Greenwood Capital Associates LLC Cuts Position in The Home Depot, Inc. (NYSE:HD)

Greenwood Capital Associates LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 8.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,321 shares of the home improvement retailer’s stock after selling 1,963 shares during the period. Home Depot makes up about 1.1% of Greenwood Capital Associates LLC’s investment portfolio, making the stock its 25th biggest position. Greenwood Capital Associates LLC’s holdings in Home Depot were worth $7,814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter worth $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the fourth quarter worth about $32,000. Quarry LP boosted its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Home Depot during the fourth quarter valued at $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 2.1%

Shares of HD opened at $360.35 on Thursday. The company has a market capitalization of $358.52 billion, a P/E ratio of 24.48, a PEG ratio of 4.03 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 business’s 50 day simple moving average is $361.89 and its 200-day simple moving average is $383.78. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 business 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 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.63 EPS. As a group, sell-side analysts predict 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 paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Insider Transactions at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on 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 owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 target price (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Sanford C. Bernstein reissued a “market perform” rating and set a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Gordon Haskett boosted their target price on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Finally, Royal Bank of Canada decreased their target price 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 investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.