MKT Advisors LLC Lowers Position in The Home Depot, Inc. (NYSE:HD)

MKT Advisors LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 924 shares of the home improvement retailer’s stock after selling 63 shares during the period. MKT Advisors LLC’s holdings in Home Depot were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Home Depot in the fourth quarter worth $5,032,910,000. GAMMA Investing LLC raised its position in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC lifted its position in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and set a $415.00 price objective (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, DA Davidson reduced their target price on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Price Performance

Shares of NYSE HD opened at $368.97 on Friday. The business has a fifty day moving average price of $361.58 and a two-hundred day moving average price of $384.99. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $367.10 billion, a PE ratio of 25.07, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its 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 company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $3.63 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.49%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Insider Activity

In related news, 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 transaction of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s 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. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Profile

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.