Capital Market Strategies LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Capital Market Strategies LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 10.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,686 shares of the home improvement retailer’s stock after selling 651 shares during the quarter. Home Depot accounts for 1.4% of Capital Market Strategies LLC’s portfolio, making the stock its 14th biggest holding. Capital Market Strategies LLC’s holdings in Home Depot were worth $2,084,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HD. Norges Bank purchased a new position in Home Depot during the 4th quarter valued at $5,032,910,000. Raymond James Financial Inc. purchased a new stake in shares of Home Depot in the 4th quarter worth $2,212,546,000. Proficio Capital Partners LLC lifted its holdings in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Northern Trust Corp grew its position in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after buying an additional 1,424,857 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in shares of Home Depot during the 4th quarter worth $471,189,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Sanford C. Bernstein reissued a “market perform” rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Insider Transactions at Home Depot

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 sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $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. Company insiders own 0.10% of the company’s stock.

Home Depot Trading Up 0.0%

Home Depot stock opened at $368.08 on Friday. The stock has a 50-day moving average of $360.78 and a two-hundred day moving average of $386.29. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a one year low of $323.93 and a one year high of $439.37. The stock has a market cap of $365.88 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. 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 business posted $3.63 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

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.