Fortitude Family Office LLC Has $2.17 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Fortitude Family Office LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 24.1% during the first quarter, Holdings Channel.com reports. The firm owned 5,930 shares of the home improvement retailer’s stock after selling 1,884 shares during the quarter. Home Depot accounts for 0.8% of Fortitude Family Office LLC’s portfolio, making the stock its 26th biggest holding. Fortitude Family Office LLC’s holdings in Home Depot were worth $2,173,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HD. Wealth Group Ltd. increased its holdings in shares of Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after purchasing an additional 27 shares during the period. Tallon Kerry Patrick acquired a new position in Home Depot in the 4th quarter valued at $281,000. Capital & Planning LLC lifted its position in shares of Home Depot by 110.2% during the 4th quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 563 shares during the period. Ironwood Wealth Management LLC. grew its holdings in shares of Home Depot by 0.7% during the 4th quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock worth $1,765,000 after purchasing an additional 32 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after purchasing an additional 7,203 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Down 2.1%

Shares of NYSE HD opened at $360.35 on Thursday. The company’s 50 day moving average price is $361.89 and its 200-day moving average price is $383.78. 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 Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market capitalization of $358.52 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The business 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 company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.63 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HD shares. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. TD Securities cut shares of Home Depot to a “buy” rating in a research report on Monday, June 2nd. Wedbush reiterated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. DA Davidson decreased their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now owns 7,951 shares of the company’s stock, 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. 0.10% of the stock is owned by company insiders.

Home Depot Company 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.