Signature Wealth Management Group Reduces Stock Position in Home Depot Inc (NYSE:HD)

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Signature Wealth Management Group reduced its holdings in Home Depot Inc (NYSE:HD) by 10.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,372 shares of the home improvement retailer’s stock after selling 1,183 shares during the period. Signature Wealth Management Group’s holdings in Home Depot were worth $2,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of HD. Enterprise Trust & Investment Co bought a new stake in shares of Home Depot in the 3rd quarter worth about $27,000. Belmont Capital LLC bought a new stake in shares of Home Depot in the 4th quarter worth about $28,000. Julex Capital Management LLC bought a new stake in shares of Home Depot in the 3rd quarter worth about $29,000. Proffitt & Goodson Inc. lifted its holdings in shares of Home Depot by 106.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 134 shares of the home improvement retailer’s stock worth $31,000 after acquiring an additional 69 shares during the last quarter. Finally, Financial Advantage Inc. bought a new stake in shares of Home Depot in the 3rd quarter worth about $37,000. 69.87% of the stock is owned by institutional investors and hedge funds.

NYSE:HD opened at $224.59 on Thursday. Home Depot Inc has a one year low of $172.00 and a one year high of $239.31. The firm has a market cap of $243.05 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.97 and a beta of 1.00. The firm has a 50-day simple moving average of $218.89 and a 200-day simple moving average of $222.23.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 19th. The home improvement retailer reported $2.53 EPS for the quarter, meeting the consensus estimate of $2.53. Home Depot had a net margin of 10.01% and a negative return on equity of 721.00%. The business had revenue of $27.22 billion during the quarter, compared to analyst estimates of $27.51 billion. During the same quarter in the previous year, the business posted $2.51 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts expect that Home Depot Inc will post 10.08 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $1.36 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.44 annualized dividend and a dividend yield of 2.42%. Home Depot’s dividend payout ratio is currently 55.01%.

In other news, CEO Craig A. Menear sold 113,468 shares of Home Depot stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $211.24, for a total value of $23,968,980.32. Following the transaction, the chief executive officer now owns 277,604 shares of the company’s stock, valued at approximately $58,641,068.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 12,974 shares of Home Depot stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $213.70, for a total transaction of $2,772,543.80. Following the completion of the transaction, the executive vice president now directly owns 26,335 shares in the company, valued at approximately $5,627,789.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,552 shares of company stock valued at $26,765,281. Company insiders own 0.27% of the company’s stock.

HD has been the subject of several analyst reports. Morgan Stanley lowered their target price on shares of Home Depot from $235.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Jefferies Financial Group lifted their price objective on shares of Home Depot from $246.00 to $268.00 and gave the company a “buy” rating in a report on Friday, November 15th. SunTrust Banks lifted their price objective on shares of Home Depot from $208.00 to $225.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Wedbush decreased their price objective on shares of Home Depot from $230.00 to $225.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Finally, Goldman Sachs Group lifted their price objective on shares of Home Depot to $246.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seventeen have issued a buy rating to the company. Home Depot presently has an average rating of “Buy” and an average price target of $237.31.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Further Reading: What is a stock split?

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

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