Pines Wealth Management LLC Acquires 357 Shares of The Home Depot, Inc. (NYSE:HD)

Pines Wealth Management LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 10.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,938 shares of the home improvement retailer’s stock after acquiring an additional 357 shares during the quarter. Pines Wealth Management LLC’s holdings in Home Depot were worth $1,320,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HD. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter worth about $28,000. Navigoe LLC acquired a new position in Home Depot in the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter worth about $32,000. Quarry LP increased its holdings 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 worth $37,000 after buying an additional 66 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’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 transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents 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.

Analyst Upgrades and Downgrades

HD has been the topic of several recent analyst reports. Royal Bank of Canada reduced their target price on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley restated an “overweight” rating and issued a $415.00 price objective (up previously 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-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Price Performance

Home Depot stock opened at $367.45 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $365.59 billion, a P/E ratio of 24.96, a PEG ratio of 4.03 and a beta of 1.02. The business has a 50-day moving average of $361.63 and a 200-day moving average of $384.72. The Home Depot, Inc. has a 1 year low of $323.93 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the previous year, the business earned $3.63 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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