Kelly Financial Services LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Kelly Financial Services LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 6.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,648 shares of the home improvement retailer’s stock after purchasing an additional 99 shares during the quarter. Kelly Financial Services LLC’s holdings in Home Depot were worth $604,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter valued at about $28,000. Navigoe LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $32,000. Quarry LP raised its holdings in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $360.35 on Thursday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a market cap of $358.52 billion, a price-to-earnings ratio of 24.48, a PEG ratio of 4.03 and a beta of 1.02. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a 50 day moving average of $361.89 and a 200-day moving average of $383.78.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current 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 given a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.55%. Home Depot’s dividend payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. DA Davidson dropped their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on Home Depot and gave the company an “outperform” rating in a report on Thursday, May 22nd. Guggenheim reiterated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. raised their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 sale, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares in the company, 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. 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.