Vectors Research Management LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Vectors Research Management LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 0.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,811 shares of the home improvement retailer’s stock after selling 31 shares during the quarter. Vectors Research Management LLC’s holdings in Home Depot were worth $2,496,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Navigoe LLC acquired a new position in shares of Home Depot during the fourth quarter worth 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 lifted its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after acquiring an additional 66 shares in the last quarter. Sellwood Investment Partners LLC purchased a new position in Home Depot in the 4th quarter worth approximately $39,000. Finally, NewSquare Capital LLC grew its position in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.1%

HD stock opened at $356.84 on Tuesday. The firm’s 50-day moving average is $362.65 and its two-hundred day moving average is $378.90. The company has a market capitalization of $355.03 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.32 and a beta of 1.02. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the company earned $3.63 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HD shares. Morgan Stanley restated an “overweight” rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Robert W. Baird dropped their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Gordon Haskett boosted their price target on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven investment 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 stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’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 transaction of $954,564.00. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

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.