Banque Cantonale Vaudoise Purchases Shares of 37,626 The Home Depot, Inc. (NYSE:HD)

Banque Cantonale Vaudoise purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,626 shares of the home improvement retailer’s stock, valued at approximately $13,790,000. Home Depot accounts for 0.6% of Banque Cantonale Vaudoise’s portfolio, making the stock its 23rd largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Navigoe LLC bought a new position in Home Depot during the 4th quarter worth approximately $29,000. Abound Financial LLC bought a new position in Home Depot during the 1st quarter worth approximately $31,000. Iron Horse Wealth Management LLC lifted its holdings in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after buying an additional 46 shares during the last quarter. Quarry LP lifted its holdings 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 buying an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its holdings in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock worth $42,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HD. Robert W. Baird reduced their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. Jefferies Financial Group reduced their target price on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. TD Securities downgraded Home Depot to a “buy” rating in a report on Monday, June 2nd. Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $426.77.

Home Depot Stock Performance

HD opened at $377.26 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The firm has a market cap of $375.35 billion, a PE ratio of 25.59, a P/E/G ratio of 3.57 and a beta of 1.00. The business has a fifty day simple moving average of $365.55 and a 200-day simple moving average of $373.66. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 transaction, the executive vice president directly owned 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 through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 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 disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.