Strategic Investment Advisors MI Sells 33 Shares of The Home Depot, Inc. (NYSE:HD)

Strategic Investment Advisors MI cut its holdings in The Home Depot, Inc. (NYSE:HD) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 626 shares of the home improvement retailer’s stock after selling 33 shares during the period. Strategic Investment Advisors MI’s holdings in Home Depot were worth $229,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Navigoe LLC bought a new stake in Home Depot in the fourth quarter worth $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $32,000. Quarry LP grew its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Sellwood Investment Partners LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $39,000. Finally, NewSquare Capital LLC grew its stake in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after purchasing an additional 68 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’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 sale, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’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 completion of 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

Shares of HD opened at $361.96 on Thursday. The stock has a market cap of $360.12 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 3.43 and a beta of 1.02. 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 fifty-two week low of $326.31 and a fifty-two week high of $439.37. The firm’s 50-day simple moving average is $363.10 and its two-hundred day simple moving average is $378.66.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $3.63 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Friday, June 20th. Guggenheim reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Finally, Stifel Nicolaus upgraded shares of 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 report on Wednesday, May 21st. Seven research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.