Blueshift Asset Management LLC Invests $507,000 in The Home Depot, Inc. (NYSE:HD)

Key Points

• Blueshift Asset Management LLC invested approximately $507,000 in The Home Depot, acquiring 1,384 shares during the first quarter.
• The company's earnings report indicated an EPS of $3.56 for the quarter, missing estimates of $3.59, but revenue increased by 9.4% year-over-year to $39.86 billion.
• Home Depot's stock has an average rating of "Moderate Buy" from analysts, with a consensus target price of $426.77.

Blueshift Asset Management LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,384 shares of the home improvement retailer's stock, valued at approximately $507,000.

Other institutional investors have also added to or reduced their stakes in the company. Navigoe LLC bought a new position in Home Depot in the fourth quarter valued at $29,000. Abound Financial LLC acquired a new position in shares of Home Depot during the 1st quarter worth about $31,000. Quarry LP grew its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC increased 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 acquiring an additional 46 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its holdings 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 acquiring an additional 30 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HD has been the subject of a number of analyst reports. Gordon Haskett raised their price target on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and increased their price objective for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Mizuho lowered their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Morgan Stanley reissued 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 analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Trading Up 1.6%

HD stock opened at $373.55 on Friday. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market capitalization of $371.66 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 3.49 and a beta of 1.00. The company's 50-day simple moving average is $365.84 and its 200 day simple moving average is $373.39. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $39.24 billion. During the same quarter in the previous year, the company earned $3.63 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.5%. Home Depot's payout ratio is currently 62.42%.

Insider Buying and Selling at Home Depot

In related 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 value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.

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