Axxcess Wealth Management LLC Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Axxcess Wealth Management LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 6.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 44,272 shares of the home improvement retailer’s stock after selling 2,909 shares during the period. Axxcess Wealth Management LLC’s holdings in Home Depot were worth $16,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Navigoe LLC purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $29,000. Abound Financial LLC purchased a new position in shares of Home Depot during the 1st quarter worth $31,000. Quarry LP grew its holdings in shares of 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 purchasing an additional 66 shares during the period. Sellwood Investment Partners LLC purchased a new position in shares of Home Depot during the 4th quarter worth $39,000. Finally, Spurstone Advisory Services LLC purchased a new position in Home Depot during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HD. DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Morgan Stanley reissued an “overweight” rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Monday, June 30th. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group cut their price target on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Seven equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the executive vice president directly owned 17,367 shares of the company’s stock, 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 legal filing with the SEC, which is available through the SEC website. Also, 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 value of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 7,951 shares of the company’s stock, valued at approximately $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. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Down 0.1%

Home Depot stock opened at $367.45 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 Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The company has a market cap of $365.59 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.50 and a beta of 1.00. The stock’s 50 day moving average price is $365.52 and its 200 day moving average price is $375.92.

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

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is presently 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.