Assetmark Inc. Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Assetmark Inc. has increased its stake in The Home Depot by 2.8%, owning 49,303 shares valued at approximately $18.07 million as of its latest filing.
• The Home Depot reported a quarterly earnings miss with $3.56 EPS, falling short of estimates by $0.03, but achieved a revenue of $39.86 billion, surpassing expectations.
• The company announced a quarterly dividend of $2.30 per share, yielding 2.45% annually, with a payout ratio of 62.42%.

Assetmark Inc. grew its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,303 shares of the home improvement retailer's stock after purchasing an additional 1,358 shares during the quarter. Assetmark Inc.'s holdings in Home Depot were worth $18,069,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Navigoe LLC acquired a new stake in Home Depot in the fourth quarter worth approximately $29,000. Abound Financial LLC acquired a new stake in shares of Home Depot in the first quarter valued at about $31,000. Iron Horse Wealth Management LLC grew its position in shares of 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 valued at $36,000 after purchasing an additional 46 shares during the last quarter. Quarry LP grew its position 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 purchasing an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its position in Home Depot by 35.7% during the first 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 in the last quarter. 70.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the company an "overweight" rating in a report on Monday, June 30th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Monday, June 30th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada decreased their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Stock Performance

Home Depot stock traded down $1.13 during mid-day trading on Wednesday, hitting $376.21. 350,055 shares of the company's stock traded hands, compared to its average volume of 3,529,702. The firm has a 50 day simple moving average of $365.56 and a two-hundred day simple moving average of $373.69. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The stock has a market cap of $374.30 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 3.59 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the prior year, the business posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. Home Depot's payout ratio is presently 62.42%.

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.