Ingalls & Snyder LLC Boosts Position in The Home Depot, Inc. (NYSE:HD)

Ingalls & Snyder LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 10.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,977 shares of the home improvement retailer’s stock after buying an additional 7,833 shares during the quarter. Home Depot comprises 1.3% of Ingalls & Snyder LLC’s portfolio, making the stock its 15th largest holding. Ingalls & Snyder LLC’s holdings in Home Depot were worth $27,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HD. Fairfield Bush & CO. purchased a new position in shares of Home Depot during the first quarter worth about $27,000. KB Financial Partners LLC purchased a new position in shares of Home Depot during the first quarter worth about $28,000. Keener Financial Planning LLC purchased a new position in shares of Home Depot during the fourth quarter worth about $31,000. PFG Private Wealth Management LLC grew its holdings in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 32 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new position in shares of Home Depot during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

Shares of Home Depot stock opened at $342.87 on Monday. The company has a market cap of $339.79 billion, a PE ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 0.98. The business has a 50 day moving average of $369.91 and a 200 day moving average of $338.58. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HDGet Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.05. The company had revenue of $34.79 billion for the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.30 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.62%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is presently 59.60%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Barclays upgraded Home Depot from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Evercore ISI boosted their target price on Home Depot from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted their target price on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Oppenheimer downgraded Home Depot from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $376.35.

Check Out Our Latest Research Report on HD

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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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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