Bridges Investment Management Inc. Sells 5,766 Shares of The Home Depot, Inc. (NYSE:HD)

Bridges Investment Management Inc. trimmed its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,108 shares of the home improvement retailer's stock after selling 5,766 shares during the quarter. Bridges Investment Management Inc.'s holdings in Home Depot were worth $38,888,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of HD. Brighton Jones LLC raised its holdings in Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after acquiring an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Home Depot by 4.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after buying an additional 565 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Home Depot by 11.1% during the 4th quarter. Proficio Capital Partners LLC now owns 10,545 shares of the home improvement retailer's stock worth $4,102,000 after buying an additional 1,055 shares in the last quarter. Bender Robert & Associates raised its holdings in shares of Home Depot by 3.1% during the 4th quarter. Bender Robert & Associates now owns 8,779 shares of the home improvement retailer's stock worth $3,415,000 after buying an additional 261 shares in the last quarter. Finally, Moors & Cabot Inc. grew its position in Home Depot by 1.3% during the 4th quarter. Moors & Cabot Inc. now owns 44,044 shares of the home improvement retailer's stock worth $17,133,000 after acquiring an additional 551 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and upped their price target for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Gordon Haskett upped their price target on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. TD Securities lowered Home Depot to a "buy" rating in a research report on Monday, June 2nd. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research report on Monday, June 30th. Finally, Royal Bank Of Canada cut their target price 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 equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on 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 transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm'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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Trading Down 1.0%

Shares of HD traded down $3.56 during trading hours on Friday, hitting $369.74. The company had a trading volume of 1,450,139 shares, compared to its average volume of 3,565,534. The firm has a market cap of $367.86 billion, a P/E ratio of 25.08, a P/E/G ratio of 3.53 and a beta of 1.00. The stock's 50 day moving average price is $366.03 and its 200 day moving average price is $375.75. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly 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 net margin of 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is currently 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.