Cardinal Capital Management Inc. Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cardinal Capital Management Inc. raised its position in The Home Depot, Inc. (NYSE:HD) by 10.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,021 shares of the home improvement retailer’s stock after buying an additional 7,924 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Home Depot were worth $31,526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the fourth quarter valued at approximately $28,000. Navigoe LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Quarry LP raised its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HD shares. Wells Fargo & Company cut their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Mizuho cut their price target on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Sanford C. Bernstein restated a “market perform” rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Finally, TD Securities lowered Home Depot to a “buy” rating in a report on Monday, June 2nd. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Home Depot Stock Down 0.6%

Home Depot stock opened at $365.20 on Tuesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $363.35 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock’s fifty day moving average is $361.51 and its two-hundred day moving average is $384.05.

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 company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.63 EPS. Analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is currently 62.42%.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.