Alley Investment Management Company LLC Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Alley Investment Management Company LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 0.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 53,903 shares of the home improvement retailer’s stock after purchasing an additional 264 shares during the period. Home Depot makes up 2.5% of Alley Investment Management Company LLC’s holdings, making the stock its 13th biggest position. Alley Investment Management Company LLC’s holdings in Home Depot were worth $19,755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HD. Navigoe LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $29,000. Quarry LP lifted its stake in shares of Home Depot by 220.0% during the fourth 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. Sellwood Investment Partners LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $39,000. NewSquare Capital LLC grew 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 worth $40,000 after acquiring an additional 68 shares during the period. Finally, Spurstone Advisory Services LLC acquired a new position in Home Depot in the 4th quarter valued at $45,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD traded down $2.33 during trading on Wednesday, hitting $370.83. The stock had a trading volume of 320,982 shares, compared to its average volume of 3,422,762. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month 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. The firm has a market cap of $368.95 billion, a PE ratio of 25.18, a P/E/G ratio of 3.49 and a beta of 1.00. The company has a 50 day simple moving average of $364.33 and a 200-day simple moving average of $376.90.

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 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 company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the firm earned $3.63 EPS. Home Depot’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Gordon Haskett raised their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. TD Securities lowered Home Depot to a “buy” rating in a research note on Monday, June 2nd. DA Davidson dropped their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Finally, Jefferies Financial Group lowered their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated 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 directly owned 17,367 shares in the company, valued at $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 available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 transaction, the executive vice president owned 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

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.