Concord Wealth Partners Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Concord Wealth Partners trimmed its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 8.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 10,482 shares of the home improvement retailer's stock after selling 1,021 shares during the period. Concord Wealth Partners' holdings in Home Depot were worth $3,842,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Navigoe LLC acquired a new position in Home Depot during the fourth quarter worth about $29,000. Abound Financial LLC acquired a new position in Home Depot during the first quarter worth about $31,000. Iron Horse Wealth Management LLC grew its position in Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares during the period. Quarry LP grew its position in Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new position in Home Depot during the fourth quarter worth about $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 value of $954,564.00. Following the transaction, the executive vice president 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 position. The sale was disclosed in a legal filing with the SEC, which is available at 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 completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Trading Up 0.1%

NYSE:HD traded up $0.28 during trading hours on Friday, reaching $359.32. 3,360,940 shares of the company were exchanged, compared to its average volume of 3,434,372. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a market cap of $357.50 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 3.40 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a 50 day simple moving average of $366.09 and a 200 day simple moving average of $374.69.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.63 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HD. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price target (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Robert W. Baird lowered their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Finally, Mizuho lowered their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and an average price target of $426.77.

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.