Coastwise Capital Group LLC Has $1 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Coastwise Capital Group LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 114.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,730 shares of the home improvement retailer's stock after buying an additional 1,455 shares during the quarter. Coastwise Capital Group LLC's holdings in Home Depot were worth $1,000,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HD. Asset Planning Services Inc. LA ADV grew its position in Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Norges Bank purchased a new position in Home Depot in the fourth quarter valued at about $5,032,910,000. GAMMA Investing LLC boosted its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Northern Trust Corp boosted its stake in Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after acquiring an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in Home Depot in the fourth quarter valued at about $471,189,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on HD. Stifel Nicolaus upgraded shares of 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 note on Wednesday, May 21st. DA Davidson reduced their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Royal Bank Of Canada reduced their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. 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 report on Tuesday, May 20th. Finally, Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Trading Up 0.1%

NYSE:HD opened at $359.32 on Friday. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock has a market cap of $357.50 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 3.42 and a beta of 1.00. The company has a 50-day moving average price of $366.03 and a 200-day moving average price of $374.38. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (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 firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same period last year, the firm posted $3.63 earnings per share. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.56%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insider Buying and Selling

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company'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 sale, the executive vice president owned 7,951 shares of the company's stock, valued at $2,919,130.14. This represents a 24.64% 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 Teresa Wynn Roseborough sold 5,406 shares of the company'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 directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

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.

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.