Hemenway Trust Co LLC Boosts Position in The Home Depot, Inc. (NYSE:HD)

Hemenway Trust Co LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,251 shares of the home improvement retailer’s stock after buying an additional 5,331 shares during the quarter. Home Depot comprises 3.2% of Hemenway Trust Co LLC’s portfolio, making the stock its 12th largest holding. Hemenway Trust Co LLC’s holdings in Home Depot were worth $38,940,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HD. Wealth Group Ltd. grew its holdings in Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after buying an additional 27 shares in the last quarter. Tallon Kerry Patrick purchased a new position in Home Depot during the 4th quarter valued at about $281,000. Capital & Planning LLC grew its holdings in 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 buying an additional 563 shares in the last quarter. Ironwood Wealth Management LLC. boosted its position 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 valued at $1,765,000 after acquiring an additional 32 shares during the last quarter. Finally, Brighton Jones LLC boosted its position 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 valued at $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $348.74 on Wednesday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The business’s 50 day simple moving average is $363.01 and its two-hundred day simple moving average is $381.43. The stock has a market capitalization of $346.97 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 3.36 and a beta of 1.02. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $3.63 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 dividend on an annualized basis and a yield of 2.64%. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now directly 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.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. DA Davidson dropped their price target on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their price target on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Royal Bank Of Canada dropped their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $426.77.

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.