Stonegate Investment Group LLC Acquires 2,673 Shares of The Home Depot, Inc. (NYSE:HD)

Stonegate Investment Group LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 255,430 shares of the home improvement retailer’s stock after acquiring an additional 2,673 shares during the quarter. Home Depot makes up about 2.5% of Stonegate Investment Group LLC’s portfolio, making the stock its 12th biggest holding. Stonegate Investment Group LLC’s holdings in Home Depot were worth $93,613,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. Navigoe LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the 4th quarter valued at $32,000. Quarry LP boosted its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the period. Sellwood Investment Partners LLC bought a new stake in Home Depot in the 4th quarter valued at $39,000. Finally, NewSquare Capital LLC boosted its stake in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HD shares. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Sanford C. Bernstein restated a “market perform” rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Friday. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. 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 company’s stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business’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 sale, the executive vice president now owns 7,951 shares in the company, 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 SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

Home Depot stock opened at $350.21 on Friday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a market capitalization of $348.44 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The stock has a fifty day moving average of $362.65 and a 200-day moving average of $380.08.

Home Depot (NYSE:HD) last posted 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the firm posted $3.63 EPS. Home Depot’s quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.63%. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

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.