Bennett Selby Investments LP Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Bennett Selby Investments LP increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 22.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,566 shares of the home improvement retailer’s stock after acquiring an additional 462 shares during the period. Bennett Selby Investments LP’s holdings in Home Depot were worth $941,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock valued at $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter valued at about $5,032,910,000. Capital Research Global Investors lifted its holdings in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after purchasing an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction 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 transaction, the executive vice president now owns 7,951 shares in the company, valued at $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. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $367.45 on Friday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The firm has a fifty day moving average of $361.63 and a 200-day moving average of $384.62. The firm has a market capitalization of $365.59 billion, a P/E ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.63 earnings per share. As a group, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HD. Mizuho cut their price objective on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. DA Davidson cut their price objective on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Telsey Advisory Group reissued an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. Jefferies Financial Group cut their price objective on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Finally, Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

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.