Beacon Investment Advisory Services Inc. Acquires 4,837 Shares of The Home Depot, Inc. (NYSE:HD)

Beacon Investment Advisory Services Inc. raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,393 shares of the home improvement retailer's stock after buying an additional 4,837 shares during the quarter. Home Depot accounts for 1.4% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 21st largest position. Beacon Investment Advisory Services Inc.'s holdings in Home Depot were worth $30,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of HD. Accredited Investors Inc. grew its stake in Home Depot by 0.9% during the 1st quarter. Accredited Investors Inc. now owns 4,484 shares of the home improvement retailer's stock valued at $1,643,000 after acquiring an additional 39 shares in the last quarter. Quadrant Private Wealth Management LLC grew its stake in Home Depot by 62.2% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 7,465 shares of the home improvement retailer's stock valued at $2,736,000 after acquiring an additional 2,862 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Home Depot by 12.8% during the 1st quarter. Proficio Capital Partners LLC now owns 11,895 shares of the home improvement retailer's stock valued at $4,354,000 after acquiring an additional 1,350 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in Home Depot by 5.3% during the 1st quarter. KLP Kapitalforvaltning AS now owns 383,042 shares of the home improvement retailer's stock valued at $140,381,000 after acquiring an additional 19,200 shares in the last quarter. Finally, Summit Asset Management LLC grew its stake in Home Depot by 16.8% during the 1st quarter. Summit Asset Management LLC now owns 6,858 shares of the home improvement retailer's stock valued at $2,513,000 after acquiring an additional 987 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock traded up $2.08 during trading on Friday, reaching $375.17. The company's stock had a trading volume of 2,220,183 shares, compared to its average volume of 3,349,543. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The business's fifty day moving average price is $365.59 and its 200-day moving average price is $373.84. The firm has a market cap of $373.27 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.63 earnings per share. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date 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%.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 completion of the sale, the executive vice president owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president owned 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 disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price target on shares of Home Depot 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, DA Davidson cut their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

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.