Bar Harbor Wealth Management Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Bar Harbor Wealth Management lowered its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,041 shares of the home improvement retailer's stock after selling 927 shares during the quarter. Bar Harbor Wealth Management's holdings in Home Depot were worth $9,177,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HD. Center for Financial Planning Inc. raised its position in shares of Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after acquiring an additional 24 shares in the last quarter. Tranquility Partners LLC boosted its position in shares of Home Depot by 1.1% during the fourth quarter. Tranquility Partners LLC now owns 2,306 shares of the home improvement retailer's stock valued at $897,000 after purchasing an additional 26 shares in the last quarter. Wealth Group Ltd. grew its stake in Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock worth $219,000 after purchasing an additional 27 shares during the period. Members Trust Co raised its holdings in Home Depot by 1.0% in the fourth quarter. Members Trust Co now owns 2,692 shares of the home improvement retailer's stock worth $1,047,000 after purchasing an additional 27 shares in the last quarter. Finally, Sollinda Capital Management LLC lifted its position in Home Depot by 2.5% during the fourth quarter. Sollinda Capital Management LLC now owns 1,115 shares of the home improvement retailer's stock valued at $434,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and upped their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating on shares of Home Depot in a report on Monday, June 2nd. Royal Bank of Canada lowered their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Finally, Wells Fargo & Company dropped their price target on Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $426.77.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 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 document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $954,564.00. Following the completion of the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at $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 $9.06 during midday trading on Friday, reaching $354.10. 3,362,684 shares of the company traded hands, compared to its average volume of 3,408,835. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The business has a 50 day moving average of $362.73 and a two-hundred day moving average of $382.50. The firm has a market capitalization of $352.31 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results 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 net margin of 9.45% and a return on equity of 452.60%. 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 company earned $3.63 earnings per share. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. Home Depot's dividend payout ratio is currently 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.