Northstar Asset Management Inc. Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Northstar Asset Management Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 17.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,511 shares of the home improvement retailer’s stock after selling 5,752 shares during the quarter. Home Depot accounts for approximately 3.0% of Northstar Asset Management Inc.’s investment portfolio, making the stock its 13th largest position. Northstar Asset Management Inc.’s holdings in Home Depot were worth $10,083,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Navigoe LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $29,000. Abound Financial LLC bought a new stake in shares of Home Depot in the first quarter valued at about $31,000. Quarry LP raised its holdings 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 valued at $37,000 after acquiring an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC raised its holdings in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock worth $36,000 after purchasing an additional 46 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its holdings in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock worth $42,000 after purchasing an additional 30 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.3%

Shares of HD opened at $399.29 on Friday. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market capitalization of $397.27 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.80 and a beta of 1.00. The stock has a fifty day simple moving average of $370.47 and a two-hundred day simple moving average of $371.61. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the business earned $3.63 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot’s dividend payout ratio is currently 62.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HD shares. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday. Wells Fargo & Company set a $420.00 price target on Home Depot and gave the stock an “overweight” rating in a research note on Monday, June 30th. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Finally, Mizuho dropped their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 21st. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $427.48.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was 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 directly owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents 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 the firm’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 owned 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 disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot 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.